ISLAMABAD, June 24: Zarai Taraqiati Bank Limited (ZTBL) recovered a record amount of Rs37 billion as against Rs30 billion disbursed as agricultural credit during 2003-04.

ZTBL President Istaqbal Mehdi disclosed these figures during his speech at the Institute of Bankers, Pakistan, here on Thursday. He attributed these "achievements" to the restructuring of the bank that had resulted in the ZTBL becoming a "commercially viable" bank.

The restructuring, he stated, had enabled the bank to rationalize its lending and recovery policies, raise the number of its financially viable branches and improve capital adequate ratio up to 25 per cent.

In this connection, the bank was subjected to a diagnostic review and improvements in legal, operational, financial and organizational spheres. ZTBL, its president went on to remark, had a vast network but it lacked the necessary infrastructure or a system of effective checks and balances, strong internal control to run it on commercial sustainable basis.