The National Bank of Pakistan (NBP) has extended agriculture loans worth Rs 26 billion over the years. This was stated by the Chairman and President of NBP Syed Ali Raza. He said that the NBP extended loans mainly to the small farmers and that the average amount was about Rs 75,000.
Syed Ali Raza was of the view that the default rate among the small borrowers was very low. Citing an example, he said that during the past several years, the percentage of defaulters as far as agricultural loans were concerned was between three to 3.5 percent.
He said that the NBP's Advance salary scheme had also made things better for the salaried class. He pointed out that this scheme was more popular in the smaller cities and towns in the country.