The meeting focused on various aspects of Rosselkhozbank's (Russian Agricultural Bank) current activities.

In particular, the Supervisory Council considered the results of its loan business in the 4th quarter of 2010. The total amount of loans issued by the bank over this period has gone up by more than 19 billion roubles to reach 116.5 billion.

In order to make loans more affordable, the bank cut its interest rates on three occasions at the end of 2010:

- by 1 to 3 percentage points for short-term loans (depending on the loan period);

- by 5 percentage points for overdraft lines of credit;

- by 1 percentage point for long-term loans .

Council members have also noted the bank's achievements, such as introducing a faster loan application processing procedure and issuance of loans.

Viktor Zubkov stressed that while in the 1st quarter of 2011 the bank will work on expanding its loan portfolio by more than 13%, the financing of spring fieldwork and the State Programme for the Development of Agriculture shall remain priority areas of lending.

The meeting approved the 1.4-billion rouble financing of this year's sowing campaign carried out by SAHO group of companies.

In conclusion, the Supervisory Council endorsed Kirill Levin for the Deputy Chairman of the bank's Managing Council, which supervises its corporate business.