Agriculture Economy

Loans Recovery Grew By 5.17 Percent In Last Year: ZTBL

ISLAMABAD, Feb 9 (APP): The loans recovery of Zarai Tarqiatie Limited (ZTBL) has witnessed about 5.17 percent growth during the year 2017 as compared the recovery of the same period of last year.
The bank had disbursed an ever highest amount of Rs 97.128 billion among 345,131 borrowers across the country including Azad Jammu and and Gilgit Baltistan, said spokesman of the bank here Friday.

Talking to APP he said that an amount of Rs 22.700 billion was disbursed for development category of loans whereas, an amount of Rs 74.429 billion was disbursed as production loans in order to enhance agriculture and production in the country.

Meanwhile, he said that the bank recovered an amount of R\s 107.579 billion as compared to Rs 102.281 billion recovered last year showing a growth of 5.17 percent as compared with the recovery of the same period last year.

Besides, the bank recovered an amount of Rs 1.876 billion of SAM loans, whereas it had fetched deposit of Rs 71.00 billion as on December 31, 2017, the official of added.

He informed that being the largest agriculture lending institute of the country, the bank has successfully maintained the highest credit and entity rating of AAA/A-1+ as evaluated by JCR-VIS.

The spokesman of the bank informed that besides credit disbursement and recovery the bank has also introduced several new initiatives in order to promote agriculture and livestock sector as well as agro-related business in the country.

In order to promote the agriculture value addition, the bank has introduced Kissan Assan Karobar Scheme and Financing For Ostrich Farming to promote agriculture-related businesses.

To enhance the outreach of the bank 28 new branches have been opened during the year 2017, resultantly the total number of branches has been increased to 488 thereby, increasing the outreach of ZTBL and supportive to financial inclusion strategy of , he added.

The bank was also offering its services to domestic consumers and started utility bills collection and it collected 1,506,131 utility bills in the year 2017.

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