Nine months of FY13

Agri credit disbursement surges by 17% to Rs 231.04 billion

FY13
FY13

KARACHI: Agricultural credit disbursement by banks surged by 17 percent on yearly basis to Rs 231.04 billion in the first nine months (July to March) of the current fiscal year 2012-13.

In absolute terms, disbursement of credit to the agriculture sector increased by over Rs 33.7 billion in July to March FY 2013 when compared with the total disbursement of Rs 197.3 billion in the same period of the last fiscal year.

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 123.7 billion as compared with Rs 107.6 billion disbursed in July to March of FY 2012, depicting an increase of 14.9 percent.

Zarai Taraqiati Bank Limited (ZTBL), the largest specialised bank, disbursed a total of Rs 37.9 billion in July to March FY 2013 as compared with Rs 37.8 billion disbursed in the same period of the last fiscal year. Punjab Provincial Cooperative Bank Limited (PPCBL) disbursed Rs 5.4 billion in July to March of FY 2013 when compared with Rs 6 billion disbursed in the same period of the last fiscal year.

Fourteen domestic private banks also loaned a combined amount of Rs 51.0 billion in July to March of FY 2013 as compared to Rs 37.3 billion disbursed during the same period last year.

Five microfinance banks including Khushhali Bank Ltd, NRSP Microfinance Bank Ltd, First Microfinance Bank Ltd, Pak Oman Microfinance Bank Ltd and Tameer Microfinance Bank Ltd disbursed agricultural loans amounting to Rs 12.9 billion during July to March of FY 2013 as compared to 8.5 billion during the same period last year.

It may be pointed out that the State Bank of Pakistan has provisionally set an indicative agricultural credit disbursement target of Rs 315 billion to banks for the current fiscal year. Source Daily Times

Published: Zarai Media Team

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