KARACHI: During the first half of current fiscal year (July-Dec. 2014) the banks have disbursed agricultural credit of Rs 219.5 billion which is 44% of the overall annual target of Rs 500 billion.
This is 38% higher than disbursement of Rs 159.4 billion made during the corresponding period of last year. The outstanding portfolio of agricultural loans has increased by Rs 34.7 billion from Rs 276.7 billion to Rs 311.4 billion at the end December 2014 compared to same period of last year, said SBP statement here on Wednesday.
Amongst the major banks, Muslim Commercial Bank has achieved 64.3% of its annual target, United Bank Limited achieved 55.2%, Habib Bank Limited 51%, Allied Bank Limited 37.6% while National Bank of Pakistan could achieve only 34.6% of its individual annual target. Under the specialized banks category, Zaree Tarqiati Bank Limited disbursed Rs 27.8 billion or 30.9 % against its target of Rs 90.0 billion while PPCBL disbursed Rs 4.2 billion i.e. 36.6 % against its target of Rs 11.5 billion during the period under review.
Within fifteen domestic private banks, Bank of Khyber has achieved 72.4%,Faysal Bank achieved 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% while Sindh Bank could achieve only 27.9% of their annual targets during Jul-Dec. 2014. However, Standard Chartered Bank has disbursed Rs 3.7 billion against its annual target of Rs 2.5 billion for 2014-15. Under microfinance category, seven microfinance banks as one group have disbursed Rs 13.8 billion against their annual target of Rs 28.2 billion while under Islamic mode of financing, four Islamic banks collectively disbursed Rs 0.9 billion against their targets of Rs 2.3 billion to agricultural borrowers.
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