ISLAMABAD, July 11: Zarai Taraqqiati Bank (ZTBL) has surpassed the recovery and disbursement targets during the first six months of this calendar year. The bank recovered Rs36.4 billion during January-June period with a significant growth of 38 per cent as against Rs26.4bn recovered during the corresponding period last year.

This shows that the recovery of the bank has increased by Rs10 billion, which the bank says is the highest ever and will make available more funds for disbursement, states official figures released here on Wednesday.

During Jan-June 2007, the bank disbursed Rs32.1bn representing a 13 per cent growth over the corresponding period last year exceeding the actual target of Rs28.5bn. The pace of disbursement remained at 113 per cent higher over the correspondent period last year, the bank says.

The ZTBL also exceeded lending target for the financial year 2006-07 by disbursing Rs56.3 billion as against the Rs48 billion target assigned by State Bank.

The bank registered a growth of 17 per cent on the disbursement of Rs47.6 billion made in 2005-06. Now the bank stands regained its lost share which hovers above 35 per cent in the overall agriculture credit target of Rs160 billion for 2006-07, an official spokesman of the bank said.

The bank had recovered Rs57.6 billion which was also Rs11.3 billion more than its recovery made during 2005-06 representing a growth of 25 per cent.