KARACHI: Banks have surpassed agricultural credit disbursement target of Rs315 billion set by the SBP for the year ending on June 30, 2013, said the State Bank on Tuesday.

Against the indicative target of Rs315bn, banks disbursed Rs336bn, which is Rs21bn in excess of the target for fiscal year 2012-13 and 14.4 per cent higher than last year’s disbursement of Rs293.8bn.

Five large commercial banks collectively disbursed agriculture loans of Rs172.8bn or 112.6pc of their annual target, higher by 18pc from Rs146.3bn disbursed during the corresponding period last year.

Allied Bank Limited (ABL), National Bank of Pakistan (NBP), MCB Bank, Habib Bank Limited (HBL) and United Bank Limited (UBL) surpassed their annual target, achieving 146.2pc, 119.5pc, 103.9pc, 100.3pc and 100pc of their individual targets, respectively.

Under specialised banks category, Zarai Taraqiati Bank Limited (ZTBL) disbursed Rs67bn or 93pc of its annual target of Rs72bn while Punjab Provincial Co-operatives Bank Limited (PPCBL) disbursed Rs8.3bn by achieving 92.3pc of its target of Rs9bn during FY 2012-13.

Fourteen Domestic Private Banks as a group achieved 103.6pc of its target.

Habib Metropolitan, the Bank of Khyber, Bank Al Habib, Faysal Bank and Sindh Bank surpassed their annual agriculture credit disbursement targets by achieving 460pc, 189.6pc, 128.4pc, 124pc and 100pc, respectively.

However, Soneri Bank, Bank Alfalah, Askari Bank, NIB Bank, Silk Bank and Bank of Punjab achieved 95.5pc, 94.6pc, 85pc, 73.7pc, 71pc and 61.3pc of their targets respectively. KASB Bank and Summit Bank could achieve only 15.8pc and 12.3pc of their annual targets, respectively.

Five microfinance banks as a group surpassed their annual target of Rs13.8bn by disbursing agriculture loans of Rs18.7bn during FY2012-13.

Tameer Microfinance Bank, NRSP Microfinance Bank and Khushhali Bank surpassed their individual annual targets by achieving 206pc, 152.8pc and 150pc, respectively, while First Microfinance Bank and Pak Oman Microfinance Bank could achieve only 77pc and 59pc of their annual targets, respectively.