Higher agriculture credit disbursement by banks during July-March

Karachi, April 23, 2014 (PPI-OT): Against the agriculture credit disbursement target of Rs 380 billion for FY 2013 ‐ 14, the banks disbursed Rs 255.7 billion during July ‐ March, 2014 which is 67.3% of the annual target. The disbursement is 10.7% higher than Rs 231.0 billion disbursement during the corresponding period last year. The outstanding portfolio of agri. loans has increased by Rs 39.1 billion (16%) i.e. from Rs 241.9 billion to Rs 281.0 billion at end March, 2014 as compared to same period last year.

Five major commercial banks as a group disbursed agri. loans of Rs 133.5 billion or 71.0% of its annual target which is higher by 8.0% from Rs 123.7 billion during the corresponding period last year. Amongst the major banks MCB achieved 76.7%, NBP 76.2%, HBL 73.0%, UBL 63.2% and ABL could manage only 56.7% of their individual annual targets.

Amongst specialized banks, ZTBL achieved 66.0% of its target by disbursing Rs 45.9 billion against its annual target of Rs 69.5 billion while PPCBL achieved 54.5% of its target of Rs 10.0 billion by disbursing Rs 5.4 billion during the period under review.

Fourteen domestic private banks collectively achieved 60.0% of their annual targets. However, Sindh Bank achieved 79% of its annual target while Bank Al Habib achieved 77.2%, The Bank of Punjab 73.9%, Bank Alfalah 64.0%, Soneri Bank 61.6%, Faysal Bank 59.9%, The Bank of Khyber 58.5% and Habib Metropolitan Bank 50.5% of their annual targets. Further, Silk Bank could achieve only 38.0%, NIB Bank 33.3%, Askari Bank 26.9%, KASB 21.5% and Summit Bank 19.7% of their annual targets.

Seven microfinance banks as a group disbursed agri. loans of Rs 16.2 billion or 75.0% of their annual target of Rs 21.6 billion. Amongst the Microfinance Banks, Tameer Microfinance Bank, U Microfinance Bank and Pakoman Microfinance Bank already surpassed their annual targets while Khushhali Bank achieved 87.3%, NRSP Microfinance Bank 69.9%, The First Microfinance Bank 55.4% of their annual targets however, Waseela Bank could achieve only 34.0 % of its target. Under the category of Islamic Banks, three banks collectively achieve 94.6% of their annual targets by disbursing Rs 503.3 million against the target of Rs 532.0 million during July ‐ March 2014.

For more information, contact:
Syed Wasimuddin
Chief Spokesman
State Bank of Pakistan (SBP)
Tel: +9221 3921 2562
Fax: +9221 3921 2563
Email: syed.wasimuddin@sbp.org.pk