Agricultural credit disbursement by commercial and specialised banks increased by 19 percent year-on-year basis to Rs 17.847 billion in the first month of current fiscal year (2009-10). In absolute term, disbursement of credit to the agriculture sector increased by Rs 2.849 billion in July 2009 against Rs 14.998 billion in the same month last year.
Overall credit disbursement by five major commercial banks including Allied Bank Limited, Habib Bank Limited, MCB Bank Limited, National Bank of Pakistan and United Bank Limited stood at Rs 10.337 billion in July 2009 against Rs 6.690 billion in July, 2008, depicting an increase of Rs 3.647 billion or 54.51 percent.
Zarai Taraqiati Bank Limited, the largest specialised bank, disbursed a total of Rs 3.509 billion in July 2009, up 12 percent as compared to Rs 3.132 billion in July 2008, while disbursement by Punjab Provincial Co-operative Bank Limited stood at Rs 548.127 million in July, 2009 against Rs 699.062 million in the same month last year.
Besides, 14 domestic private banks also loaned combined Rs 3.453 billion in July, 2009 as compared to Rs 4.477 billion disbursed in July, 2008. It may be recalled that the State Bank of Pakistan has set an indicative agricultural credit disbursement target of Rs 260 billion for FY10. Banks disbursed a total of Rs 233.01 billion to the agricultural sector in FY09.
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