ISLAMABAD: Zarai Taraqiati Bank Limited disbursed Rs 93 billion in 2023 among 300,000 farmers across the country and remained a major participant in Prime Minister Kissan’s package by disbursing Rs 29.5 billion in 2022, mainly for farm mechanization and flood-affected areas.
The bank maintains its position as the largest provider of institutional agricultural loans due to efficient fund management, efficient recycling of bank proceeds and sound administrative and financial controls, a press release issued by the bank said on Tuesday
ZTBL’s six-decade history has witnessed an all-time high profit before tax of Rs 17,606 crore (Rs 7,458 crore in 2022), with a profit after tax of Rs 10,984 crore (Rs 5,123 crore in 2022) in 2023 with a profit of share at Rs 2.10 in 2023 compared to Rs 0.97 in 2022.
In addition, ZTBL also improved its capital adequacy ratio to 37.76%, well above the State Bank of Pakistan’s requirement of 11.50%.
ZTBL’s role in promoting the agricultural sector has helped the agricultural sector of the country, which contributes 22.9% to the GDP, employs nearly 37.4% of the workforce and is the base for other industries that are certainly the backbone of the country’s economy.
To serve the banking needs of farmers, ZTBL’s strategic presence is characterized in rural, underserved and unbanked areas, covering 482 locations across the country with a branch network of 501 branches. On the advisory front, ZTBL reaches out to farmers through its mobile delivery and organization of Zarai Baithaks.
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Meanwhile, the bank has introduced financing schemes that take into account the needs of subsistence farmers to empower them, which will lead to escalation of the country’s food security.
The bank also continues its commitment to national schemes such as the Prime Minister’s Loan Scheme for Young Enterprises and Agriculture and is rolling out newer initiatives such as the Agri E-Credit Scheme in Punjab, which includes digitized loan processing for efficient disbursement.
Together, these programs reflect a holistic approach to addressing various agricultural challenges and promoting sustainable growth. In addition, ZTBL is also playing its role in facilitating the society in fulfilling its religious obligations by assisting it in submitting 1106 applications for Hajj Hajj-2024.
