ISLAMABAD: Banks have disbursed Rs. 326 billion as agriculture credit during first nine months of fiscal year 2015 (Jul to March) according to External Relations Department of the State Bank of Pakistan. Disbursed amount by now is the 65.2% of the budgeted annual target of Rs. 500 billion and 27.5% higher than disbursement of Rs 255.7 billion made during the corresponding period last year.
Five major banks of this scheme have disbursed Rs. 167.4 billion or 66.3% of their annual target. Amongst these five major banks, MCB has achieved 80.5% of its annual target, UBL achieved 76.7%, HBL 75.3%, NBP 55.3% while ABL could achieve only 45.2% of its target.
Two specialized banks – Zarai Taraqiati Bank Ltd (ZTBL) has disbursed Rs. 56.2 billion or 62.4% against its target of Rs. 90 billion while Punjab Provincial Cooperative Bank (PPCBL) has disbursed Rs. 5.9 billion or 50.9% against its target of Rs. 11.5 billion during the period under review.
Fifteen domestic private banks collectively disbursed Rs 72.1 billion or 62.4% against their target of Rs. 115.6 billion. Within fifteen domestic private banks, Bank of Khyber has achieved 90.4%, Faysal Bank achieved 81.1%, Bank Alfalah 54.9%, Bank Al Habib 54.9%, NIB bank 58.5%, Summit Bank 46.8%, Sindh Bank 56.3%, Silk Bank 48.8%, Soneri Bank 50.6%, JS bank 64.8 %, Bank of Punjab 40.9%, Standard Chartered has already disbursed Rs. 3.8 billion against target of Rs. 2.5 billion, while Askari Bank could achieve only 40.9% of its annual targets.
Seven microfinance banks have disbursed Rs. 20.7 billion or 73.6% of their annual targets of Rs. 28.2. However, the four Islamic banks as a group have already surpassed their annual targets last month and now they have collectively disbursed Rs. 3.7 billion against the target of Rs. 2.3 billion.