karachi - Banks have surpassed the agricultural credit disbursement target of Rs 315 billion set by the State Bank of Pakistan for the year ending 30th June 2013.
Against the indicative target of Rs 315 billion, the banks disbursed Rs 336.1 billion, which is Rs 21.1 billion in excess of the target for FY2012-13 and 14.4pc higher than the last year’s disbursements of Rs 293.8 billion. Further, the agri outstanding portfolio stands at Rs 257.0 billion at end June, 2013 showing an increase of 16pc compared with the last year position of Rs 221.5 billion.
Five large commercial banks collectively disbursed agri loans of Rs 172.8 billion or 112.6pc of their annual target, higher by 18.0pc from Rs 146.3 billion disbursed during the corresponding period last year. ABL, NBP, MCB Bank, HBL and UBL surpassed their annual targets, achieving 146.2pc, 119.5pc, 103.9pc, 100.3pc and 100.0pc of their individual targets respectively. Under specialized banks category, ZTBL disbursed Rs 67.1 billion or 93.1pc of its annual target of Rs 72.0 billion, while Punjab Provincial Co-operative Bank Limited (PPCBL) disbursed Rs 8.3 billion by achieving 92.3pc of its target of Rs 9.0 billion 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 agri credit disbursements targets by achieving 460pc, 189.6pc, 128.4pc, 124.0pc and 100.2pc respectively. However, Soneri Bank, Bank Alfalah, Askari Bank, NIB Bank, Silk Bank and Bank of Punjab achieved 95.5pc, 94.6pc, 85.0pc, 73.7pc, 71.3pc and 61.3pc of their targets respectively. KASB Bank and Summit Bank could achieve only 15.8pc and 12.3pc of their targets respectively. Five Microfinance Banks as a group surpassed their annual targets of Rs 13.8b by disbursing agri loans of Rs 18.7b during FY2012-13.Tameer Microfinance Bank, NRSP Microfinance Bank and Khushhali Bank surpassed their targets by achieving 206.6pc, 152.8pc and 150.0pc respectively, while First Microfinance Bank and Pak Oman Microfinance Bank could achieve only 77.7pc and 59.0pc of their annual targets respectively.
The achievement of agri credit disbursement target during the year was difficult in the backdrop of high risk perception of banks about agri financing. However, SBP adopted a multipronged strategy and made all-out efforts in achieving the targets.