The Habib Bank Ltd (HBL) has disbursed Rs 12.976 billion in the agricultural sector over the last 10 months of fiscal 2004-05. This amount suggests an 86 percent increase on Rs 6.978 billion disbursements made during the same period last year, and an achievement of 130 percent of the targeted amount of Rs 10 billion fixed for the year, a press release issued here, on Wednesday said.
The HBL is playing a pivotal role in the uplift of livestock, horticulture and tractor financing, which is in addition to crop financing under the three-year revolving credit scheme being offered by over 800 HBL branches countrywide.
Over the last 10 months, the HBL has financed Rs 1074 million for 4,291 tractors Rs 649m for the horticulture sector, Rs 8,232 million for crop input, and Rs 1613 million for other developmental purposes, the statement added.
The HBL expects better results due to its farmer-friendly products.
It has already exceeded its disbursement target of Rs 10 billion allocated by the State Bank of Pakistan for the year 2004-05.
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