The Habib Bank Limited has disbursed Rs 9.618 billion during 2003-04 to the agricultural sector, showing 160 percent achievement against the targeted amount of Rs 6 billion fixed by the State Bank.
"It is Rs 3.129 billion higher than the amount of Rs 6.489 billion disbursed during 2002-03," a HBL release issued here on Tuesday said.
During 2003-04 the HBL has also provided financing for 4,179 tractors, showing a rise of 161 percent over 2002-03.
For 2004-05 the State Bank of Pakistan has allocated an agricultural finance disbursement target of Rs 10 billion to the HBL.
A spokesman of the HBL said that during the annual meeting of the ACAC the SBP had highly appreciated the efforts of the HBL in promotion of agricultural credit.
The spokesman said that the HBL provides credit to needy farmers through its wide network of over 900 branches across the country.