KARACHI: Agricultural credit disbursement by banks surged by 15.74 percent on year-on-year basis to Rs 259.1 billion in first ten months (July-April) of the current fiscal year.
The increase is over Rs 35.23 billion when compared with the total disbursement of Rs 223.85 billion in the same period of the last fiscal year, said a statement issued by State Bank of Pakistan (SBP) here on Tuesday.
Overall credit disbursement by five major commercial banks including Allied Bank Limited, Habib Bank Limited, MCB Bank Limited, National Bank of Pakistan and United Bank Limited stood at Rs 139.07 billion as compared with Rs 120.41 billion disbursed in July-April of last fiscal year; showing an increase of 15.49 percent. Zarai Taraqiati Bank Limited (ZTBL), the largest specialized bank, disbursed a total of Rs 44.25 billion in July-April, FY-2013 as compared with Rs 43.90 billion disbursed in the same period of the last fiscal year.
Punjab Provincial Co-operative Bank Limited (PPCBL) disbursed Rs 5.66 billion in July-April, FY-2013 when compared with Rs 6.35 billion disbursed in the same period of the last fiscal year. Fourteen domestic private banks also loaned a total amount of Rs 56.36 billion in July-April, FY 2013 compared to Rs 44.14 billion disbursed during the same period last year.
Five Microfinance Banks including Khushhali Bank Ltd., NRSP Microfinance Bank Ltd., The First Microfinance Bank Ltd., Pak Oman Microfinance Bank Ltd. and Tameer Microfinance Bank Ltd. disbursed agriculture loans amounting to Rs 13.73 billion during July-April, FY 2013 as compared to Rs 9.03 billion during the same period last year.
The State Bank has provisionally set an indicative agricultural credit disbursement target of Rs 315 billion to banks for the current fiscal year.
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