Agricultural credit disbursement surges to Rs 368.7 billion in the first ten months of Fiscal Year 2015

Karachi, May 20, 2015 (PPI-OT): During the first ten months of current fiscal year (July 2014 – April 2015), banks disbursed Rs 368.7 billion which is 73.7% of the overall annual target of Rs 500 billion and 28% higher than disbursement of Rs 288.4 billion made during the corresponding period last year. The outstanding portfolio of agricultural loans has also surged by Rs 35.6 billion or 12.7% i.e. from Rs 280.7 billion to Rs 316.3 billion at end April 2015 as compared to same period last year.

Five major banks as a group disbursed Rs 186.9 billion or 74% of their annual target and two specialized banks (ZTBL and PPCBL) disbursed Rs 71.2 billion or 70.1% of their annual targets of Rs 101.5 billion. Fifteen domestic private banks collectively disbursed Rs 81.8 billion or 70.8% against their target of Rs 115.6 billion. Eight microfinance banks disbursed Rs 24.2 billion or 85.9% of their annual targets whereas the four Islamic banks as a group have already surpassed their annual targets by disbursing Rs 4.6 billion against the target of Rs 2.3 billion during the period under review.

Amongst the five major banks, HBL achieved 85.8 % of its annual target, MCB achieved 83.8%, UBL 81.3%, NBP 63.4% while ABL could achieve only 55.5 % of its individual annual target. Under the specialized banks category, ZTBL disbursed Rs 64.8 billion or 72 % against its target of Rs 90.0 billion while PPCBL disbursed Rs 6.3 billion i.e. 56 % against its target of Rs 11.5 billion during the period under review.

Within fifteen domestic private banks, Bank of Khyber achieved 92.6%, Faysal bank achieved 92%, JS bank 90.2%, NIB bank 64.7%, Sindh Bank 62.8%, Bank Al Habib 59.6%, Bank Alfalah 58.7%, Soneri Bank 55.2%, Bank of Punjab 54.5%, Silk bank 54.2%, Summit bank 52.9%, Habib Metropolitan Bank 52.1% while Askari bank achieved only 43.5% each of their annual targets during Jul-Apr 2015. Standard Chartered Bank has already surpassed its annual target of Rs 2.5 billion by disbursing Rs 5.8 billion during the period.

For more information, contact:
Syed Wasimuddin
Chief Spokesman
State Bank of Pakistan (SBP)
Tel: +92-21-39212562
Fax: +92-21-39212563