Agri credit disbursement surges to Rs 439.8bn in 11 months

KARACHI: During current fiscal year (July-May 2015) the banks have disbursed Rs 439.8 billion which is 88% of the overall annual target of Rs 500 billion.

This is 31.4% higher than disbursement of Rs 334.7 billion made during the corresponding period last year, said a SBP statement issued on Monday.

The outstanding portfolio of agriculture loans has also surged by Rs 43 billion or 15.5% i.e. from Rs 277.1 billion to Rs 320.1 billion at end May 2015 as compared to same period last year.

The performance of five major banks as a group remained satisfactory as they have disbursed Rs 229.3 billion or 90.8% of their annual target and two specialized banks (ZTBL and PPCBL) disbursed Rs 86.8 billion or 85.4% of their annual targets of Rs 101.5 billion.

Fifteen domestic private banks collectively disbursed Rs 91.2 billion or 78.9% against their target of Rs 115.6 billion. Eight microfinance banks have disbursed Rs 27.8 billion or 98.8% of their annual targets.

Four Islamic banks as a group have already surpassed their annual targets by disbursing Rs 4.7 billion against the target of Rs 2.3 billion during the period under review.

The group wise performance of banks during the period (Jul-May 2015) is summarized in following table: Amongst the five major banks, Habib Bank Limited has achieved 98.8 % of its annual target, Allied Bank limitd achieved 95.6%, Muslim Commercial Bank 91.1%, United Bank Limited 85.1% while NBP could achieve 84.1 % of its individual annual target.

Under the specialized banks category, ZTBL disbursed Rs 78.7 billion or 87.4 % against its target of Rs 90.0 billion while PPCBL disbursed Rs 8.1 billion i.e. 70.4 % against its target of Rs 11.5 billion during the period under review.

Within fifteen domestic private banks, Faysal Bank has achieved 95.1%, Sindh Bank achieved 73.6% and Bank Alfalah 72.7%. However, Bank of Khyber, Standard Chartered Bank and JS Bank have surpassed their annual targets of Rs 5.0 billion, Rs 2.5 billion and Rs 0.5 billion respectively during the period.