Banks exceed agri loan disbursement target for fiscal ‘17

Dhaka,  Tue,  25 July 2017
Published : 18 Jun 2017, 22:18:01
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Banks exceed agri loan disbursement target for fiscal ‘17

Farm and non-farm credit disbursement witnessed a massive 107.89 per cent growth in 11 months of the fiscal year 2016-17 (FY17), reports BSS.

Banks in public and private sectors, including the specialised and foreign ones, disbursed about Tk 189 billion till May against their total target of Tk 175.5 billion during the period.

Private and foreign commercial banks' performance was better than that of the public banks in distribution of agricultural and non-farm credit during the period.

According to Bangladesh Bank (BB) data, the state-owned and specialised banks have achieved 98.38 per cent of their loan disbursement target while the foreign and private commercial banks did 118.59 per cent against their target fixed by the central bank.

Six state-owned commercial banks - Agrani, Janata, Rupali, Sonali, BASIC and BDBL (Bangladesh Development Bank Limited) and two state-owned specialised banks - Bangladesh Krishi Bank and RAKUB (Rajshahi Krishi Unnayan Bank) disbursed a total of Tk 91.3959 billion which is Tk 1.5041 billion more than their target of Tk 92.90 billion.

The foreign and private commercial banks disbursed Tk 97.9568 billion, up Tk 15.3568 billion from their target of Tk 82.60 billion.

Earlier, BB chief spokesperson Subhankar Saha said banks have been able to exceed the agricultural loan disbursement target in the last couple of years due to the central bank's strict monitoring over farm loan disbursement.

Every month, the BB holds meeting with scheduled banks to expedite agricultural loan disbursement activities, he added.

Disbursement target of the BB was Tk 145.95 billion for the fiscal year 2013-14, but the disbursement surpassed the target and stood at Tk 160.37 billion.

Fiscal years 2014-15 and 2015-16 also followed the similar trend with disbursement of Tk 159.78 billion and 176.46 billion against the targets of Tk 155.50 billion and Tk 164 billion respectively.
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