Banks disburse Rs231bn as agriculture credit

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KARACHI: Banks have disbursed Rs231.04 billion as agriculture credit among farmers during the first nine months of the current fiscal year, a statement of the State Bank of Pakistan issued here on Monday said

Agriculture credit disbursement surged by 17 percent on year-on-year basis. In absolute terms, credit disbursement to the agriculture sector increased by over Rs33.7 billion in July-March FY13 as compared to the total disbursement amount of Rs197.3 billion in the same period of last fiscal.

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 Rs123.7 billion as compared to Rs107.6 billion in July-March FY12, depicting an increase of 14.9 percent.

Zarai Taraqiati Bank Limited (ZTBL), the largest specialised bank, disbursed a total of Rs37.9 billion as compared to Rs37.8 billion a year ago.

Punjab Provincial Co-operative Bank Limited (PPCBL) disbursed Rs5.4 billion during the period under review against Rs6 billion in the corresponding period of FY12. During July-March FY13, fourteen domestic private banks loaned a combined amount of Rs51.0 billion.

Five microfinance banks, including Khushhali Bank Ltd., NRSP Microfinance Bank Ltd., the First Microfinance Bank Ltd., Pak Oman Microfinance Bank Ltd. and Tameer Microfinance Bank Ltd., disbursed agricultural loans worth Rs12.9 billion during July-March FY13 as compared to Rs8.5 billion during the same period of last fiscal.

The State Bank has provisionally set an indicative agriculture credit disbursement target of Rs315 billion to banks for the current fiscal year.

Courtesy: The News

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