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Pakistan : SBP: Farmers obtained Rs228b in agri-credit from banks in the first 10 months of FY14

May 26, 2014

The Pakistani central bank has revealed on Thursday that cultivators across the nation have received agri-credit of Rs288.4 billion from banks during the July-April period of this financial year (FY14), up 11.3% from the same period of previous financial year s (FY14) figure of Rs259.1 billion.

The State Bank of Pakistan (SBP) has also disclosed that banks have targeted Rs380 billion in agri-credit for the current fiscal year, of which Rs288.4 billion or 76% has already been disbursed during the first 10 months of FY14.

The SBP has noted that the outstanding agriculture loans have grown by 14.4% (Rs35.3 billion) to Rs280.7 billion in July-April of this financial year in comparison with Rs245.4 billion the corresponding period of the last fiscal year (FY13).

According to the SBP data, five main commercial banks have extended Rs149.6 billion in agri-credit out of the total disbursal of Rs288.4 billion during the reviewed period, reflecting an increase of 7.6% from the figures in July-April FY13.

With this, these lenders have realized 80% of their target set for the current fiscal year.

According to the SBP, MCB Bank has realized 84.2% of its target for the current fiscal year, followed by National Bank of Pakistan (84%), Habib Bank Limited (80%), United Bank Ltd (78%) and Allied Bank Ltd (65%).

The central bank has revealed that Zarai Tarraqiati Bank and Punjab Provincial Cooperative Bank have offered respectively Rs53.3 billion and Rs5.6 billion in agri-credit in the first 10 months of this financial year.

The country s apex lender has stated that seven microfinance banks have lent Rs17.2 billion during the period under review. It has also said that Tameer Microfinance Bank, U Microfinance Bank and Pak Oman Microfinance Bank have already delivered more than their targeted amount.

According to the SBP data, Islamic banks have distributed Rs511.5 million in July-April FY14.

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Source: TendersInfo (India)

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