ISLAMABAD: Against the agriculture credit target of Rs. 380 billion for FY 2013-14, banks disbursed Rs. 218.3 billion during July-February, 2014 which is 57.4pc of the annual target.
"The disbursement is 11.0pc higher than Rs. 196.1 billion disbursement during the corresponding period last year.
The outstanding portfolio of agri. loans has increased by Rs. 39.3 billion (16.8pc) i.e. from Rs. 234.1 billion to Rs. 273.4 billion at end February, 2014 as compared to same period last year", says a statement of the State Bank of Pakistan (SBP) issued here Friday.
The SBP said that five major commercial banks as a group disbursed agri. loans of Rs. 113.0 billion or 60.1pc of its annual target which is higher by 8.5pc from Rs 104.2 billion during the corresponding period last year.
"Amongst the major banks MCB achieved 65.5pc, HBL and NBP 63.3pc each, UBL 51.8pc and ABL could achieve only 49.3pc of their individual annual targets", it added.
Amongst specialized banks, ZTBL despite having large rural branch network and infrastructure could manage only 54.8pc of its target by disbursing Rs 38.1 billion against its annual target of Rs. 69.5 billion while PPCBL achieved 50.2pc of its target of Rs. 10.0 billion by disbursing Rs. 5.0 billion during the period under review, it added.
Fourteen Domestic Private Banks collectively achieved 52.2pc of their annual targets, however, Bank Al Habib achieved 69.5pc of its target while, The Bank of Punjab achieved 66.1pc, Sindh Bank 56.9pc,Soneri Bank 52.8pc, Faysal Bank 51.9pc, Bank Alfalah 51.6pc and The Bank of Khyber 50.3pc of their annual targets. Further, Silk Bank could achieve only 34.8pc, NIB Bank 33.3pc, Habib Metropolitan Bank 27.9pc, Askari Bank 24.6pc, Summit Bank 19.2pc, and KASB 17.5pc of their annual targets.
Seven Microfinance Banks as a group disbursed agri. loans of Rs. 14.6 billion or 67.6pc of their annual target of Rs. 21.6 billion.
Amongst the Microfinance Banks, Tameer Microfinance Bank already surpassed of its annual target by disbursing Rs. 131.3 million while U Microfinance bank achieve 91.0pc, Pakoman 87.3pc, Khushhali Bank 77.7pc, NRSP Microfinance Bank 64.9pc, while The First Microfinance Bank and Waseela Bank could achieve only 51.1pc & 30.4pc of their targets respectively.
Under the category of Islamic Banks, three Islamic Banks as a group achieve 47.6pc of their annual targets during July-February 2014.
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