Banks Disburse Rs 28 Billion Agriculture Loans In July-August

Sunday, September 21, 2008 at 1:06 pm

KARACHI:The credit disbursement to the agriculture sector by commercial and specialised banks have registered significant growth of 11.50 percent to around Rs 28 billion during first two months of the current fiscal year 2009, banking sources said.

They said that during the first two months (July-August) of the current fiscal year the agri disbursement witnessed an upward trend. As commercial, private and specialised banks have overall disbursed worth Rs 28.749 billion agri loans during July-August as compared to Rs 25.783 billion during the same period last year, depicting an upsurge of Rs 2.966 billion. Bankers said that during the next few months the agri loan disbursement would show further increase due to start of Rabi season.

Sources said that some Rs 433 million raise registered in agri loan disbursement by five leading commercial banks, including Allied Bank Ltd. (ABL), Habib Bank Ltd. (HBL), MCB Bank, National Bank of Pakistan (NBP), and United Bank Ltd. (UBL).

The overall agri loan disbursement by five leading banks stood at Rs 14.669 billion during first two months of the current fiscal year against Rs 14.236 billion during the same period last year, showing an increase of 3 percent in July-August of the current fiscal year.

In addition, the Zarai Taraqiati Bank Ltd (ZTBL) – largest specialised bank – has disbursed Rs 5.839 billion up from Rs 5.057 during first two months of the current fiscal year.

While the disbursement of the Punjab Provincial Co-operative Bank Ltd. (PPCBL) depicted a decline of Rs 319 million, as it has disbursed Rs 713 million during July-August of 2009 previously stood at Rs 1.032 billion.

The credit disbursement by the other 14 domestic private banks (DPBs) increased by Rs 2.070 billion during the period, as they have disbursed Rs 7.528 billion agri loan during July-August against the Rs 5.458 billion during the same period last year.

The NBP and the HBL are leading distributors of the loan with disbursement of Rs 4.662 billion and Rs 3.740 billion respectively. While, during July-August the ABL has disbursed Rs 721 million, MCB Bank Rs 3.026 billion, and UBL Rs 2.530 billion.

It my be mentioned here that during the last fiscal year, the credit disbursement of agriculture sector by commercial and specialised banks has surpassed the target of Rs 200 billion and overall disbursed Rs 211.561 billion during fiscal year 2007-08. While for the central bank has set an indicative credit disbursement target of Rs 250 billion for the agriculture sector for the current fiscal year, which can be further enhanced after having a detailed analysis of the rising input costs of the sector.

Banks Disburse Rs 28 Billion Agriculture Loans In July-August

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