ISLAMABAD-The Zarai Taraqiati Bank Limitd (ZTBL) has earned about Rs3 billion pre tax profit for the first quarter ended on March 31, 2023 compared to Rs0.8 billion in the corresponding period.
In a statement issued here, ZTBL said the profit is attributed to the growing interest of farmers in the agriculture sector and the reforms introduced by board members, Ministry of Finance and State Bank of Pakistan (SBP). Recently, ZTBL introduced more than 20 agriculture products attracting farmers to avail the new products. ZTBL, being the premium specialised agriculture bank in the country, has been serving the small farmers in different ways ranging from seed provision to agri technology besides empowering growers financially.
“I am happy to share that farmers have shown interest in our products especially designed to meet the requirements of modern agriculture needs. We are committed to bring visible changes in the sector,” Asadullah Habib, President ZTBL remarked. He said that apart from this, ZTBL has met the target of disbursing Rs6 billion under PM Youth, Business and Agriculture Loan Scheme, adding that the scheme has resulted in generation of employment opportunities across the country. ZTBL has been actively engaged in alleviating the sufferings of those hit hard by ravaging floods in Sindh and Balochistan. Under the Prime Minister’s scheme for flood-hit areas, ZTBL has so far disbursed over Rs4 billion with zero mark up.
ZTBL board recently hired services of professional bankers from the market beside promoting existing best performing officers for making a turn around which ultimately paid off in the form of operational smoothness and increasing enthusiasm of farmers in the latest products. ZTBL has maintained the highest possible credit rating of AAA/1+ awarded by Credit Rating Agency VIS, thanks to a business model supported by board members and endorsed by stakeholders. “Bank profit aside, the only thing that makes me happy is that farmers in the country have ultimately realised the importance of modern progressive agriculture. This can positively impact the overall agriculture sector,” the president added.