Saturday, 22 November 2014

Agriculture credit disbursement up 40 percent YoY

During current fiscal year (July-October 2014) banks disbursed Rs 128.1 billion which is 25.6 percent of the overall annual target of Rs 500 billion and 40.4 percent higher than disbursement of Rs 91.2 billion made during the corresponding period last year. The outstanding portfolio of agri loans has increased by Rs 32.0 billion, ie, from Rs 267.4 billion to Rs 299.4 billion at end-October 2014 as compared to same period last year.

Amongst the major banks, MCB achieved 35.5 percent of its annual target, UBL achieved 35.2 percent, HBL 32.5 percent, ABL 26.3 percent while NBP could achieve only 22.0 percent of its individual annual target. Under the specialised banks category, ZTBL disbursed Rs 10.7 billion or 11.8 percent against its target of Rs 90.0 billion while PPCBL disbursed Rs 1.6 billion, ie, 14 percent against its target of Rs 11.5 billion during the period under review.

Within fifteen domestic private banks, Summit Bank achieved 43.3 percent, Faysal bank 39 percent, Bank Alfalah 38.7 percent, NIB bank 32.3 percent Silk Bank 30.8 percent, Bank of Khyber 27 percent and Bank Al Habib 26.2 percent of their annual targets during July-October 2014 whereas Standard Chartered Bank disbursed Rs 3.5 billion against its annual target of Rs 2.5 billion for 2014-15.

Under microfinance category, seven microfinance banks as a group disbursed Rs 4.2 billion against their annual target of Rs 28.2 billion while under Islamic mode of financing, four Islamic banks collectively disbursed Rs 643.9 million against their target of Rs 2.3 billion to agri borrowers. -PR
Copyright Business Recorder, 2014

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