ZTBL Disburse Rs80.337bn agri-credit in 10 months

ISLAMABAD: Zarai Taraqiati Bank limited (ZTBL) has so far disbursed an amount of Rs80.337 billion among the farmers during the period from January to October 2017 in order to fulfill the credit requirements of the farming community across the country.

The Bank had disbursed an amount of Rs92.847 billion during last year, where as it had disbursed Rs95.419 billion during the year 2015, as the loan disbursements were recorded at Rs81.933 million in the year 2014, said an official of the Bank.

He said that Rs7 billion among 53,000 fresh agriculture borrowers, as the loan recovery ratio of the bank had witnessed significant increase and default rate reduced during last financial year, which had created cushion for more loans.

He further said that the bank had disbursed an amount of Rs92 billion among farmers during 2016 in order to fulfill the agriculture credit requirements, adding that Rs80 billion was provided to growers during current financial year and it was expected to reach Rs100 billion by the end of current month.

He said that the number of bank customers has reached to one million and portfolio loan was increased to Rs200,000 in order to fulfill the requirements of agriculture credit to purchase the inputs to enhance the crop out put for the prosperity of local farming community of the country.

So far, he said that the bank had haired 308 people and opened 80 new bank branches in different areas of the country to facilitate the agriculture community and promoting the livestock and agriculture sector of the country.