Agricultural credit disbursement surges by over 13% to Rs 169.42 bln in first seven months of FY13
Karachi, February 21, 2013 (PPI-OT): Agricultural credit disbursement by banks surged by 13.21 percent on year-on-year basis to Rs 169.42 billion in the first seven months (July-January, 2013) of the current fiscal year (2012-13). In absolute terms, disbursement of credit to the agriculture sector increased by over Rs 19.77 billion in July-January, 2013 when compared with the total disbursement of Rs 149.65 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 89.65 billion in July-January, 2013 as compared with Rs 82.46 billion disbursed in July-January, 2012 depicting an increase of Rs 7.19 billion or 8.72 percent.
Zarai Taraqiati Bank Limited (ZTBL), the largest specialized bank, disbursed a total of Rs 26.22 billion in July-January, 2013 as compared with Rs 26.36 billion disbursed in the same period of the last fiscal year. Punjab Provincial Co-operative Bank Limited (PPCBL) disbursed Rs 4.65 billion in July-January, 2013 down by 6.46 percent when compared with Rs 4.98 billion disbursed in the same period of the last fiscal year.
Fourteen domestic private banks also loaned a combined amount of Rs 38.81 billion in July-January, 2013 up by 33.85 percent as compared with Rs 28.99 billion disbursed in the same period of the last fiscal 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 10.06 billion during July-January, 2013 as compared to Rs 6.85 billion disbursed in the same period of the last fiscal 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.
For more information, contact:
State Bank of Pakistan (SBP)
Tel: +9221 3921 2562
Fax: +9221 3921 2563