Wednesday, Sep 28th

Last update01:45:33 PM GMT

You are here::

BKB leads in agri credit, Islami Bank in pvt sector

E-mail Print PDF

Staff Reporter
The state-owned specialized Bangladesh Krishi Bank (BKB) is in the leading position in setting target for providing agriculture credit among all the 56 banks operating across the country in the fiscal 2014-15.
The BKB will distribute Tk 4800 crore agriculture loan among the farmers in the current fiscal.
This was mentioned in the ‘Agriculture and Rural Credit Policy and Program for fiscal year 2014-15’ announced by Bangladesh Bank on July 21. The central bank has set the target of total agriculture credit at Tk 15,550 crore for the fiscal.
As per the policy, the private and foreign banks will have to provide at least 2.5 percent of the total credit to the agriculture sector while the new 9 banks have to provide 5 percent of their total loan to the sector.
According to the policy statement, the BKB is followed by another state-owned specialized Rajshahi Krishi Unnayan Bank ( Rakub) with the target of Tk 16,00 crore.
Among the state-owned commercial banks, Sonali Bank leads the target with a fund of Tk 1180 crore while it is followed by the other three state-owned banks setting a target of Tk 750 crore by Janata Bank, Tk 660 crore by Agrani Bank, and Tk 150 crore by Rapuli Bank.
Among the private banks, Islami Bank Bangladesh Limited (IBBL) is leading the agriculture credit program with a fund of Tk 790 crore.
The IBBL is followed by AB Bank with Tk 270 crore, Exim Bank Tk 260 crore, Al Arafa Islami Bank Tk 251 crore, Prime Bank Tk 250 crore, UCBL Tk 250 crore, Pubali Bank Tk 235 crore, and National Bank Tk 230 crore.
The lowest target of Tk 3 crore was set for newly established Madhumati Bank while the other new banks' target are Tk 50 crore for Union Bank, Tk 40 crore for NRB Commercial Bank, Tk 30 crore for South Bangla Agricultural and Commerce Bank, Tk 20 crore for Meghna Bank, Tk 20 crore for Midland Bank, Tk 13 crore for Farmers Bank, Tk 8 crore for NRB Bank, and Tk 28 crore for NRB Global Bank.
Among the foreign banks, Tk 222 crore for Standard Chartered Bank, Tk 10 crore for Al Falah Bank, Tk 19 crore for Commercial Bank of Ceylon, Tk 15 crore for Citibank NA, Tk 6 crore for Habib Bank, Tk 125 crore for HSBC, Tk 5 crore for National Bank of Pakistan, and Tk 3 crore for Woori Bank.
The Agriculture and Rural Credit Policy dictates that the banks provide the loan either directly or through partnership with NGOs or micro-finance institutions.