KARACHI, July 1: The Agricultural Development Bank of Pakistan (ADBP) has engaged Tasir Hadi Khalid & Co. to have an in-depth assessment of three completed fiscal years of loans, equity and liquid assets portfolio.

The chartered accountants firm has also been tasked to examine financial accounts, credit and financial management, risk management policies, standards and practices of ADBP having direct baring on the bank’s overall financial condition and performance towards ensuring the viability, solvency and profitability of the bank.

The ADBP said in a press release on Monday that the exercise is part of its overall restructuring plan aimed at uplifting the agriculture sector through raising farm productivity, streamlining the institutional credit and increasing income generating capacity of the farming community.

The action plan is two-pronged focusing on operations and credit procedures which need to be looked into for timely utilization of existing resources and improvement in information technology.

The release says that as part of its restructuring plan the bank has already started diagnostic evaluation of assets portfolio reviewing 75 per cent of its loan portfolio. It says that the exercise that started in January this year will be over this month.