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Home / Business / July-Oct witnessed 40pc rise: Disbursement of agri loans up to 128b against Rs91b
July-Oct witnessed 40pc rise: Disbursement of agri loans up to 128b against Rs91b

July-Oct witnessed 40pc rise: Disbursement of agri loans up to 128b against Rs91b

KARACHI: The disbursement under agriculture loans rose 40.4 percent to Rs128.1 billion during July-October of the current fiscal year against the Rs91.2 billion in the corresponding of last year.

According to banks statistics, overall agri loans increased by Rs32 billion from Rs267.4 billion to Rs299.4 billion at end October 2014 as compared to the same period of last year.

The disbursement stand at 25.6 percent of the annual target of Rs500 billion.

Among the major banks, MCB Bank achieved 35.5pc of its annual target, UBL 35pc, HBL 32pc, ABL 26pc and NBP 22pc during the July-October period.

Under the specialised banks category, Zarai Taraqiati Bank Limited (ZTBL) disbursed Rs10.7bn, and the Punjab Provincial Cooperative Bank Limited (PPCBL) Rs1.6bn.

Of the 15 domestic private banks, Summit Bank has achieved 43pc of its target, Faysal Bank 39pc, Bank Alfalah 38pc, NIB Bank 32pc, Silkbank 30pc, Bank of Khyber 27pc, and Bank Al Habib 26pc.

Under microfinance category, seven banks as a group disbursed Rs4.2bn against their annual target of Rs28.2bn, while under Islamic mode of financing four banks collectively disbursed Rs643.9 million against Rs2.3bn.