"The introduction of economic sanctions has affected the country's economy as a whole, and it is certainly reflected in the financial industry," Tonkonog said. "It (sanctions) has led to the relative scarcity of resources and, consequently, has caused an increase in interest rates for clients on bank products."
Despite the difficulties the bank encountered last year, the Krasnodar branch managed stable growth and steady resources. Depending on the orientation of the business - either export or import, corporate clients chose either rubles or currency credit products.
Rosselkhozbank is one of the banks that form a single payment system in Russia. And the crisis (issues encountered in 2015) has not been averted. The branch managed to match a previous level of operation, having shown positive trends in the service sector of agribusiness. The aforementioned economic changes had required us to diversify our approach to forming a resource base as well as broaden the credit portfolio among various industries. To maximize the branch's profitability, the product line was expanded and relationships strengthened by improving cooperation with customers.
One of the factors, which may have an influence on business this year, are fluctuations in exchange rates. The appreciation of the national currency, in turn, increases the price of exported goods, and there are clients whose production will benefit from the appreciation of currencies.
On the other hand, those clients, whose production is grounded by purchases of foreign seeds, products for plant protection and machinery, may suffer losses due to the increase in foreign exchange rates.
However, there are customers whose branches adjust poorly to exchange rate fluctuations because their production on the domestic market has been closed.
Price variations will have a particular impact on business, and this variable will develop this year depending on currency fluctuations. We are unable to predict these variations, but we can with confidence say that in 2016 business year, the Krasnodar branch will focus on increasing cooperation with existing clients as well as attracting new ones that give us the opportunity to fund not only agriculture but also invest in the projects of other economic sectors.
FruitNews article (Russian): http://www.fruitnews.ru/expert-opinion/hot-comments/45435-kondratev-dmitrij-gennadevich-vedushchij-spetsialist-sluzhby-obshchestvennykh-svyazej-krasnodarskogo-regionalnogo-filiala-ao-rosselkhozbank-ob-itogakh-raboty-organizatsii-v-2015-godu.html