KARACHI: The country’s banks paid Rs368.7 billion agriculture loans, which are 73.7 per cent of the total annual target of Rs500 billion, during the first 10 months of ongoing financial year.
The amount is 28 per cent higher than the disbursement of Rs288.4 billion made during the corresponding period of last year.
According to the State Bank, the outstanding portfolio of agricultural loans surged by Rs35.6 billion or 12.7pc i.e. from Rs280.7 billion to Rs316.3 billion at the end April as compared to the same period last year.
Five major banks as a group disbursed Rs186.9 billion or 74pc of their annual target and two specialised banks (Zarai Taraqiati Bank and the Punjab Provincial Cooperative Bank) disbursed Rs71.2 billion or 70pc of their annual targets of Rs101.5 billion.
The SBP report said that 15 domestic private banks collectively disbursed Rs81.8 billion or 70.8pc against their target of Rs115.6 billion.
Eight microfinance banks disbursed Rs24.2 billion or 85.9pc of their annual targets whereas the four Islamic banks as a group have already surpassed their annual targets by disbursing Rs4.6 billion against the target of Rs2.3 billion during this period.
Under the specialized banks category, ZTBL disbursed Rs64.8 billion or 72pc against its target of Rs90 billion while PPCBL disbursed Rs6.3 billion i.e. 56pc against its target of Rs11.5 billion during the period under review.
Amongst the five major banks, HBL achieved 85.8pc of its annual target, MCB 83.8pc, UBL 81.3pc, NBP 63.4pc and ABL 55.5pc, respectively of their individual annual target.
