KARACHI: Agriculture credit disbursement by banks rose 32 per cent to Rs54.3 billion during the first two months of this fiscal year compared to Rs41.1bn the same period last year.

The State Bank of Pakistan (SBP) on Thursday reported that the banks so far achieved 11pc of their combined Rs500bn target for 2014-15. The outstanding portfolio of agriculture loans jumped by Rs34bn to Rs295.6bn at end of Aug 2014.

The targetfor this ñscalyearis 31.5pc higher over the last year`s Rs380bn and 28pc higher than the actual disbursement of Rs391.4bn during 2013-14.

The SBP allocated Rs252.5bn annual target to five major banks, Rs90bn to ZTBL,Rs115.5bn to 15 domestic private banl(s, Rs11.5bn to Punjab Provincial Cooperative Bank Limited (PPCBL), Rs28.2bn to seven microfinance banks and Rs2.3bn to four Islamic banks for agriculture credit disbursement during this fiscal year.

Amongst the major banks, HBL so far achieved 16pc of its annual target, NBP 11.6pc, UBL 11.4pc, MCB Bank 9.4pc and ABL 4.1pc.

Under the specialised banks category, ZTBL disbursed Rs4.4bn and PPCBL Rs647.1 million during the period under review.

Standard Chartered Bank achieved 40pc ofits annualtarget during the period Jul-Aug period followed by Summit Bank 38.5pc, Silkbank 26.8pc, NIB 22pc, Faysal Bank 21pc, Bank Alfalah 18.6pc and Bank Al Habib 14.6pc.

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