Banks achieve over 97pc of target

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From International Desk - Special Reports

KARACHI (APP) - The banks achieved more than 97 percent of agricultural credit disbursement target during the last fiscal year 2010-11 despite devastating floods in the country that damaged vast agriculture infrastructure and caused huge losses to standing crops.

Agricultural credit disbursement by commercial and specialised banks rose 6. 01 per cent to Rs 263. 022 billion during the last fiscal year (2010-11) ending on June 30, 2011, against the annual target of Rs 270 billion. In absolute terms, disbursement of credit to the agriculture sector increased by over Rs 14. 90 billion in 2010-11, when compared with total disbursement of Rs 248. 120 billion in the preceding fiscal year (2009-10), said an SBP statement here on Thursday.

Overall credit disbursement by five major commercial banks including Allied Bank Limited, Habib Bank Limited, MCB Bank Limited, National Bank of Pakistan and United Bank Limited stood at Rs 140. 312 billion in 2010-11 compared with Rs 119. 609 billion in 2009-10, depicting an increase of Rs 20. 70 billion or 17. 31 percent.

These five banks as a whole surpassed their target by Rs 7. 9 billion or 5. 9 percent, as their annual target of agri credit disbursement for FY11 was Rs 132. 45 billion.

Thirteen domestic private banks also loaned a combined Rs 50. 187 billion during last fiscal year (2010-11) compared with Rs 43. 777 billion disbursed in the preceding fiscal year (2009-10), depicting an increase of 14. 64 percent. These 13 domestic private banks as a group surpassed their annual target of Rs 48. 90 billion by Rs 1. 3 billion or 2. 6 percent.

Disbursement by Punjab Provincial Cooperative Bank Limited (PPCBL) stood at Rs 7. 161 billion in 2010-11, compared with Rs 5. 722 billion in 2009-10, depicting an increase of 25. 16 percent.

PPCBL surpassed its annual target of Rs 6. 85 billion by Rs 0. 3 billion or 4. 6 percent.

However, Zarai Taraqiati Bank Limited disbursed a total of Rs 65. 361 billion in 2010-11, down by 17. 28 percent when compared with Rs 79. 012 billion in 2009-10. It could achieve 80 percent of its target of Rs 81. 80 billion.

Province wise data shows that the agri credit disbursements to Punjab increased by Rs 10. 9 billion or 5. 1 percent, Sindh by Rs 3. 8 billion or 14. 1 percent, Khyber Pakhtunkhwa by Rs 0. 5 billion or 7. 8 percent and AJK by Rs 0. 1 billion or 13. 2 percent during the last fiscal year when compared with the preceding fiscal year. However, the disbursements to Balochistan and Gilgit-Baltistan declined by Rs 0. 3 billion and Rs 0. 1 billion respectively during July-June 2010-11 compared with fiscal year 2009-10.

The disbursement to non-farm sector, that is, livestock, poultry, fisheries, etc. increased by Rs 7. 9 billion or 10. 3 percent and to farm sector by Rs 7. 0 billion or 4. 1 percent during July-June 2010-11 compared with fiscal year 2009-10.

Outstanding agri credit portfolio of banks increased to Rs 193. 3 billion at end June 2011 from Rs 183. 4 billion at end June last year.




Courtesy: Nation


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