Annual Report 2013

Assisting the Development of the National Economy

Admittedly, the efficiency of the development processes is to a great extent contingent on the efficiency of economy regulation by the state. Systemic economy regulation should ensure sustainable and long-term accumulation of positive changes and economy growth.

Obviously, development institutions in Russia were established in pursuit of implementing structural policies that would fully respond to the need of securing long-term socio-economic development both in the country and in the entire world. Development institutions becoming the center of the relevant knowledge and competences are focused on the accomplishment of strategic goals and enhanced competitiveness of the Russian economy.

Vnesheconombank acting in the capacity of the national Bank for Development is called to address the challenges of removing infrastructure constraints to economic development, securing economy diversification and its innovative development. The major business lines of the Bank include financing infrastructure projects, in particular those with the innovative component, rendering financial and guarantee support for the exports of the Russian companies’ industrial production, as well as providing financial support for SMEs.

Within the past years, Vnesheconombank, acting as the Bank for Development, solidified its position as a leading institution in the field of financing and evaluation of major investment projects of national importance.

In order to attain the goals set Vnesheconombank has been continuously stepping up the amounts of financing provided for the real economy, as well as actively participating in raising long-term investment for the Russian economy.

The annual increase in the amount of the Bank’s loan portfolio can well be viewed as a major indicator characterizing Vnesheconombank’s development-oriented performance. To illustrate, in 2013 alone, the amount of the Bank’s loan portfolio grew from RUB 720.2 bn to RUB 974.6 bn, i.e. by more than 35%.

Over the year, the increase in the amount of the portfolio of loans extended for export support approximated to 54% reaching RUB 22.5 bn.

In December 2012, the Memorandum on Financial Policies of Vnesheconombank was amended to include provisions that define the terms and procedures of Vnesheconombank’s financial and guarantee support to companies engaged in implementation (execution) of state defense orders, with the respective loan portfolio standing at RUB 15.8 bn by the end of 2013.

Notably, within the period under review, investment in the defense industry (about 121%) and such sectors as infrastructure (42%) and electronics (about 50%) posted by far the biggest increase.

Loans to customers (by industry/sector of economy), %

Loans to customers (by maturity), %