Banks exceed agricultural loan disbursement target for FY17 | 2017-06-18 |

Banks exceed agricultural loan disbursement target for FY17

BSS     18th June, 2017 11:19:21 printer

Banks exceed agricultural loan disbursement target for FY17

Farm and non-farm credit disbursement witnessed a massive 107.89 percent growth in the 11 months of fiscal year 2016-17 (FY17) as banks in public and private sectors, including the specialized and foreign ones, disbursed about Taka 18,900 crore till May against their total target of Taka 17,550 crore during the period. 

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

According to Bangladesh Bank data, state-owned and specialized banks have achieved 98.38 percent of their loan disbursement target while the foreign and private commercial banks 118.59 percent against their target fixed by the central bank. 

Six state-owned commercial banks - Agrani, Janata, Rupali, Sonali, BASIC and BDBL and two state-owned specialised banks - Bangladesh Krishi Bank and RAKUB disbursed a total of Taka 9139.59 crore which is more Taka 150.41 crore than their target of Taka 9,290 crore. 

The foreign and private commercial banks disbursed Taka 9,795.68 crore, up Taka 1,535.68 from their target of Taka 8,260 crore.

Earlier, Bangladesh Bank 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 BB's strict monitoring over the farm loan disbursement. 

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

Disbursement target of the BB was Taka 14,595 crore for fiscal year 2013-14, but the disbursement surpassed the target and stood at Taka 16,037 crore.

Fiscals 2014-15 and 2015-16 also followed the similar trend with disbursement of Taka 15,978 crore and 17,646 crore against the targets of Taka 15,550 crore and Taka 16,400 crore respectively.