Agri credit disbursement surges by 15.74%May 21, 2013
KARACHI: Agricultural credit disbursement by banks surged by 15.74 percent on year-on-year basis to Rs 259.1 billion in the first 10 months July-April, FY 2013 of the current fiscal year 201213.
In absolute terms, disbursement of credit to the agriculture sector increased by over Rs 35.23 billion in July-April, FY 2013 when compared with the total disbursement of Rs 223.85 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 139.07 billion as compared with Rs 120.41 billion disbursed in July-April, FY 2012 depicting an increase of 15.49 percent.
Zarai Taraqqiati Bank Limited ZTBL, the largest specialized bank, disbursed a total of Rs 44.25 billion in July-April, FY 2013 as compared with Rs 43.90 billion disbursed in the same period of the last fiscal year. Punjab Provincial Cooperative Bank Limited PPCBL disbursed Rs 5.66 billion in July-April, FY 2013 when compared with Rs 6.35 billion disbursed in the same period of the last fiscal year.
Fourteen domestic private banks also loaned a combined amount of Rs 56.36 billion in July-April, FY 2013 as compared to Rs 44.14 billion disbursed during the same period last year.
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 agri. loans amounting to Rs 13.73 billion during July-April, FY 2013 as compared to Rs 9.03 billion during the same period last year.
It may be pointed out that the State Bank has provisionally set an indicative agricultural credit disbursement target of Rs 315 billion to banks for the current fiscal year.