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Banks disburse Rs288.7b agri loans, 57.8pc higher than Rs 500b annual target

Banks disburse Rs288.7b agri loans, 57.8pc higher than Rs 500b annual target

KARACHI: During July to February of fiscal year 2015), the banks disbursed Rs 288.7 billion agricultural credit which is 57.8% of the overall annual target of Rs 500 billion and 32.3% higher than disbursement of Rs 218.3 billion made during the corresponding period of 2014.

The outstanding portfolio of agri loans has increased by Rs 34.2 billion i.e. from Rs 273.4 billion to Rs 307.6 billion at end February 2015 as compared to same period last year.

As a group, five major lenders have disbursed Rs150.9 billion or 59.8% of its annual target and two specialized banks (ZTBL & PPCBL) also disbursed Rs51.5 billion or 50.7% of their targets of Rs101.5 billion. Fifteen domestic private banks collectively disbursed Rs 64.9 billion or 56.2% against their target of Rs 115.6 billion. Seven microfinance banks have disbursed Rs 18.9 billion or 67% of their annual targets.

Nevertheless; the four Islamic banks as a group have already surpassed their annual targets by disbursing Rs 2.5 billion against the target of Rs 2.3 billion during the period under review.