1HFY15: Agricultural credit disbursement increases to Rs219.5b

44% of annual target achieved, disbursement 38% higher than last year.

KARACHI: Agricultural credit disbursement increased to Rs219.5 billion in the first half 2014-15, which constitutes 44% of the overall annual target of Rs500 billion.

The State Bank of Pakistan said on Wednesday the agricultural credit disbursement in July-December was 38% higher than the disbursement of Rs159.4 billion made during the corresponding period of the last fiscal year.

The outstanding portfolio of agricultural loans increased to Rs311.4 billion at the end of December 2014, up 12.5% from the same period last year.

Among major banks, MCB Bank has achieved 64.3% of its annual target, UBL (55.2%), HBL (51%), ABL (37.6%) and NBP (34.6%) of its individual annual target.

Under the specialised banks category, Zarai Taraqiati Bank (ZTBL) disbursed Rs27.8 billion or 30.9% against its target of Rs90 billion while Punjab Provincial Cooperative Bank (PPCBL) disbursed Rs4.2 billion or 36.6 % against its target of Rs11.5 billion during the period under review.

Within 15 domestic private banks, Bank of Khyber achieved 72.4% of its annual target, Faysal Bank (57.3%), Bank Alfalah (51%), Summit Bank (44.8%), NIB Bank (42.7%), Bank AL Habib (38%), Silkbank (36.7%), Soneri Bank (33.4%), Askari Bank (30%), Bank of Punjab (29.5%) and Sindh Bank (27.9%) during July-December 2014.

Standard Chartered Bank disbursed Rs3.7 billion against its annual target of Rs2.5 billion for 2014-15.

Under the microfinance category, seven microfinance banks have collectively disbursed Rs13.8 billion against their annual target of Rs28.2 billion. Under the Islamic mode of financing, four Islamic banks collectively disbursed Rs0.9 billion against their target of Rs2.3 billion to agricultural borrowers.

Published in The Express Tribune, January 22^nd,  2015.

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