KARACHI: Banks disbursed Rs288.7 billion in agriculture loans during the first eight months (July-Feb) of 2014-15 compared to the disbursement of Rs218.3bn in the same period last year, an increase of 32.3 per cent, the State Bank reported on Wednesday.

The disbursement was 57.8pc of the overall annual target of Rs500bn.

At the end of February 2015, the outstanding portfolio of agriculture loans increased by Rs34.2bn to Rs307.6bn from Rs273.4bn in the same period last year.

Five major banks as a group disbursed Rs150.9bn (59.8pc) of their annual target and two specialised banks, ZTBL and PPCBL, also disbursed Rs51.5bn (50.7pc) of their target of Rs101.5bn.

Fifteen domestic private banks collectively disbursed Rs64.9bn, or 56.2pc, against their target of Rs115.6bn. Seven microfinance banks disbursed Rs18.9bn (67pc) of their annual target, however; the four Islamic banks as a group surpassed their annual target by disbursing Rs2.5bn against the objective of Rs2.3bn.

MCB Bank achieved 76.3pc of its annual target; UBL 72.2pc; HBL 66.6pc; NBP 46.2pc while ABL could achieve only 43.1pc of its target.

Among specialised banks, ZTBL disbursed Rs46.1bn (51.3pc) against its target of Rs90bn while PPCBL disbursed Rs5.4bn against its target of Rs11.5bn during the period under review.

Moreover, domestic private banks like Bank of Khyber achieved 86.9pc; Faysal Bank 72.3pc; Bank Alfalah 53pc; Bank Al Habib 48.3pc; NIB Bank 47.5pc; Summit Bank 45.4pc; Sindh Bank 45pc; Silk Bank 43.5pc; Soneri Bank 43pc; Bank of Punjab 36.6pc while Askari Bank could achieve only 35pc of its target during July-Feb 2015.

However, Standard Chartered disbursed Rs3.8bn against its annual target of Rs2.5bn.

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