Karachi, March 21, 2014 (PPI-OT): Against the agriculture credit target of Rs 380 billion for FY 2013-14, banks disbursed Rs 218.3 billion during July-February, 2014 which is 57.4% of the annual target. The disbursement is 11.0% higher than Rs 196.1 billion disbursement during the corresponding period last year. The outstanding portfolio of agri. loans has increased by Rs 39.3 billion (16.8%) i.e. from Rs 234.1 billion to Rs 273.4 billion at end February, 2014 as compared to same period last year.
Five major commercial banks as a group disbursed agri. loans of Rs 113.0 billion or 60.1% of its annual target which is higher by 8.5% from Rs 104.2 billion during the corresponding period last year. Amongst the major banks MCB achieved 65.5 %, HBL and NBP 63.3% each, UBL 51.8% and ABL could achieve only 49.3% of their individual annual targets.
Amongst specialized banks, ZTBL despite having large rural branch network and infrastructure could manage only 54.8% of its target by disbursing Rs 38.1 billion against its annual target of Rs 69.5 billion while PPCBL achieved 50.2% of its target of Rs 10.0 billion by disbursing Rs 5.0 billion during the period under review.
Fourteen Domestic Private Banks collectively achieved 52.2% of their annual targets, however, Bank Al Habib achieved 69.5% of its target while, The Bank of Punjab achieved 66.1%, Sindh Bank 56.9%,Soneri Bank 52.8%, Faysal Bank 51.9%, Bank Alfalah 51.6% and The Bank of Khyber 50.3% of their annual targets. Further, Silk Bank could achieve only 34.8%, NIB Bank 33.3%, Habib Metropolitan Bank 27.9%, Askari Bank 24.6%, Summit Bank 19.2%, and KASB 17.5% of their annual targets.
Seven Microfinance Banks as a group disbursed agri. loans of Rs 14.6 billion or 67.6% of their annual target of Rs 21.6 billion. Amongst the Microfinance Banks, Tameer Microfinance Bank already surpassed of its annual target by disbursing Rs 131.3 million while U Microfinance bank achieve 91.0%, Pakoman 87.3%, Khushhali Bank 77.7%, NRSP Microfinance Bank 64.9%, while The First Microfinance Bank and Waseela Bank could achieve only 51.1% and 30.4 % of their targets respectively. Under the category of Islamic Banks, three Islamic Banks as a group achieve 47.6% of their annual targets during July-February 2014.
For more information, contact:
State Bank of Pakistan (SBP)
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