Agricultural credit disbursement surges to Rs 288.7bn
According to press release issued by State Bank of Pakistan (SBP), the banks have disbursed Rs 288.7 billion which is 57.8 per cent of the overall annual target of Rs 500 billion and 32.3 per cent higher than disbursement of Rs. 218.3 billion made during the corresponding period last year.
The outstanding portfolio of agri. loans has increased by Rs 34.2 billion i.e. from Rs 273.4 billion to Rs 307.6 billion at end February 2015 as compared to same period last year.
Five major banks as a group have disbursed Rs 150.9 billion or 59.8 per cent of its annual target and two specialized banks (ZTBL & PPCBL) also disbursed Rs 51.5 billion or 50.7 per cent of their targets of Rs 101.5 billion.
Fifteen Domestic private banks collectively disbursed Rs 64.9 billion or 56.2 per cent against their target of Rs 115.6 billion. Seven Microfinance banks have disbursed Rs 18.9 billion or 67 per cent of their annual targets, however; the four Islamic banks as a group have already surpassed their annual targets by disbursing Rs 2.5 billion against the target of Rs 2.3 billion during the period under review.
Amongst the five major banks, MCB has achieved 76.3 per cent of its annual target, UBL achieved 72.2 per cent, HBL 66.6 per cent, NBP 46.2 per cent while ABL could achieve only 43.1 per cent of its individual annual target. Under the specialized banks category, ZTBL disbursed Rs 46.1 billion or 51.3 per cent against its target of Rs 90.0 billion while PPCBL disbursed Rs 5.4 billion i.e. 46.9 per cent against its target of Rs 11.5 billion during the period under review.
Within Fifteen Domestic Private Banks, Bank of Khyber has achieved 86.9 per cent, Faysal bank achieved 72.3 per cent, Bank Alfalah 53 per cent, Bank Al Habib 48.3 per cent, NIB bank 47.5 per cent, Summit bank 45.4 per cent, Sindh Bank 45 per cent, Silk bank 43.5 per cent, Soneri Bank 43 per cent, Bank of Punjab 36.6 per cent while Askari bank could achieve only 35 per cent of their annual targets during Jul-Feb 2015, however Standard Chartered Bank has disbursed Rs 3.8 billion against its annual target of Rs 2.5 billion for 2014-15.