Agricultural credit disbursement surges to Rs 167.6 billion in first five months of Fiscal year 2015

Karachi, December 18, 2014 (PPI-OT): During fiscal year FY15 (Jul- Nov 2014) the banks have disbursed Rs 167.6 billion which is 33.5% of the overall annual target of Rs 500 billion and 42.7% higher than disbursement of Rs 117.4 billion made during the corresponding period last year. The outstanding portfolio of agri. loans has increased by Rs 36.0 billion i.e. from Rs 266.8 billion to Rs 302.8 billion at end November 2014 as compared to same period last year.

Amongst the major banks, MCB has achieved 52.5% of its annual target, UBL achieved 45.2%, HBL 40.9%, ABL 30.9% while NBP could achieve only 27.7% of its individual annual target. Under the specialized banks category, ZTBL disbursed Rs 15.7 billion or 17.5% against its target of Rs 90.0 billion while PPCBL disbursed Rs 2.1 billion i.e. 18.2% against its target of Rs 11.5 billion during the period under review.

Within Fifteen Domestic Private Banks, Bank Alfalah has achieved 47.8%, Faysal bank 47.7%, Summit bank 44.7%, Bank of Khyber 42.6%, NIB bank 36.7%, Silk bank 34.7 %, Bank Al Habib 32.9%, Soneri Bank 25.9%, Bank of Punjab 21.5% while Askari bank could achieve only 21% of their annual targets during Jul-Nov 2014, however Standard Chartered Bank has disbursed Rs 3.6 billion against its annual target of Rs 2.5 billion for 2014-15.

Under Microfinance category, seven Microfinance banks as a group has disbursed Rs 7.6 billion against their annual target of Rs 28.2 billion while under Islamic mode of financing, 4 Islamic banks collectively disbursed Rs 0.7 billion against their targets of Rs 2.3 billion to agri. borrowers.

For more information, contact:
Syed Wasimuddin
Chief Spokesman
State Bank of Pakistan (SBP)
Tel: +92-21-39212562
Fax: +92-21-39212563
Email: syed.wasimuddin@sbp.org.pk

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