KARACHI: Banks have surpassed agricultural credit disbursement target of Rs315 billion set by the SBP for the year ending on June 30, 2013, said the State Bank on Tuesday.

Against the indicative target of Rs315bn, banks disbursed Rs336bn, which is Rs21bn in excess of the target for fiscal year 2012-13 and 14.4 per cent higher than last year’s disbursement of Rs293.8bn.

Five large commercial banks collectively disbursed agriculture loans of Rs172.8bn or 112.6pc of their annual target, higher by 18pc from Rs146.3bn disbursed during the corresponding period last year.

Allied Bank Limited (ABL), National Bank of Pakistan (NBP), MCB Bank, Habib Bank Limited (HBL) and United Bank Limited (UBL) surpassed their annual target, achieving 146.2pc, 119.5pc, 103.9pc, 100.3pc and 100pc of their individual targets, respectively.

Under specialised banks category, Zarai Taraqiati Bank Limited (ZTBL) disbursed Rs67bn or 93pc of its annual target of Rs72bn while Punjab Provincial Co-operatives Bank Limited (PPCBL) disbursed Rs8.3bn by achieving 92.3pc of its target of Rs9bn during FY 2012-13.

Fourteen Domestic Private Banks as a group achieved 103.6pc of its target.

Habib Metropolitan, the Bank of Khyber, Bank Al Habib, Faysal Bank and Sindh Bank surpassed their annual agriculture credit disbursement targets by achieving 460pc, 189.6pc, 128.4pc, 124pc and 100pc, respectively.

However, Soneri Bank, Bank Alfalah, Askari Bank, NIB Bank, Silk Bank and Bank of Punjab achieved 95.5pc, 94.6pc, 85pc, 73.7pc, 71pc and 61.3pc of their targets respectively. KASB Bank and Summit Bank could achieve only 15.8pc and 12.3pc of their annual targets, respectively.

Five microfinance banks as a group surpassed their annual target of Rs13.8bn by disbursing agriculture loans of Rs18.7bn during FY2012-13.

Tameer Microfinance Bank, NRSP Microfinance Bank and Khushhali Bank surpassed their individual annual targets by achieving 206pc, 152.8pc and 150pc, respectively, while First Microfinance Bank and Pak Oman Microfinance Bank could achieve only 77pc and 59pc of their annual targets, respectively.

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Judiciary’s SOS
Updated 28 Mar, 2024

Judiciary’s SOS

The ball is now in CJP Isa’s court, and he will feel pressure to take action.
Data protection
28 Mar, 2024

Data protection

WHAT do we want? Data protection laws. When do we want them? Immediately. Without delay, if we are to prevent ...
Selling humans
28 Mar, 2024

Selling humans

HUMAN traders feed off economic distress; they peddle promises of a better life to the impoverished who, mired in...
New terror wave
Updated 27 Mar, 2024

New terror wave

The time has come for decisive government action against militancy.
Development costs
27 Mar, 2024

Development costs

A HEFTY escalation of 30pc in the cost of ongoing federal development schemes is one of the many decisions where the...
Aitchison controversy
Updated 27 Mar, 2024

Aitchison controversy

It is hoped that higher authorities realise that politics and nepotism have no place in schools.