KARACHI: Banks disbursed Rs326 billion during the first nine months of the current fiscal year, which is 65.2% of their overall annual target of Rs500 billion, according to the State Bank of Pakistan (SBP).

The amount disbursed is 27.5% higher than the disbursement of Rs255.7 billion made during the corresponding period of last year, the SBP said.

The outstanding portfolio of agriculture loans surged by Rs31.6 billion, or 11.2%, from Rs281.1 billion to Rs312.7 billion at the end of March compared to the same period of last year.

Five major banks as a group disbursed Rs167.4 billion, or 66.3% of their annual target. Two specialised banks – Zarai Taraqiati Bank (ZTBL) and Punjab Provincial Cooperative Bank (PPCBL) – disbursed Rs62.1 billion, or 61.2% of their annual target of Rs101.5 billion, the SBP said.

Fifteen domestic private banks collectively disbursed Rs72.1 billion, or 62.4% of their target of Rs115.6 billion. Seven microfinance banks disbursed Rs20.7 billion, or 73.6% of their annual target.

However, four Islamic banks as a group have already surpassed their annual target by disbursing Rs3.7 billion against the target of Rs2.3 billion during the period under review.

Amongst the five major banks, MCB Bank has achieved 80.5% of its annual target, United Bank (76.7%), Habib Bank (75.3%), National Bank (55.3%) and Allied Bank (45.2%), the SBP stated.

Under the specialised bank category, ZTBL disbursed Rs56.2 billion, or 62.4%, against its target of Rs90 billion, while PPCBL disbursed Rs5.9 billion, or 50.9%, against its target of Rs11.5 billion, during the period under review.

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