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July-November period: banks disburse 33 percent of agriculture credit target




  • The State Bank of Pakistan had provisionally allocated agricultural credit disbursement target of Rs 360 billion to banks for the year 2013-14. Against the target of Rs 360 billion, the banks disbursed Rs 118.0 billion during July-November, 2013 which is 33 percent of the target. 

    The disbursement is 11.0 percent higher than Rs 106.6 billion disbursement during the corresponding period last year. The outstanding portfolio of agri loans has increased by Rs 37.8 billion ie from Rs 229.6 billion to Rs 267.4 billion at end November, 2013 as compared to the same period last year. 

    Five large banks collectively disbursed agri loans of Rs 70.6 billion or 39 percent of their annual target, higher by 12 percent from Rs 63.2 billion disbursed during the corresponding period last year. MCB Bank has achieved 48 percent of its annual target while NBP, HBL, UBL and ABL have achieved 42 percent, 41 percent, 31 percent and 27 percent of their individual targets respectively. Amongst specialised banks, ZTBL could disburse only Rs 13.6 billion or 20 percent against its target of Rs 69.5 billion while PPCBL achieved 19.6 percent of its target by disbursing Rs 1.76 billion during the period under review. 

    Fourteen domestic private banks as a group achieved 31 percent of their target, however, the banks including, Sindh Bank, Bank of Khyber, Bank Al Habib, Silk Bank, Summit Bank and NIB Bank have achieved 85 percent, 59 percent, 45 percent, 41 percent, 41 percent and 38 percent of their annual targets respectively. 

    Soneri Bank, Bank Alfalah, Faysal, BoP and Askari Bank could achieve only 31 percent, 28 percent, 24 percent, 19 percent and 18.6 percent of their targets respectively. Seven Microfinance Banks as a group disbursed agri loans of Rs 6.6 billion or 34 percent of their annual target of Rs 19.6 billion. The three Islamic Banks collectively disbursed Rs 0.25 billion or 47 percent against a target of Rs 0.5 billion under the Islamic modes of financing to agri borrowers during the period under review. -PR 

    Copyright Business Recorder, 2013

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