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Zarai Taraqiati Bank Limited

From Wikipedia, the free encyclopedia

Zarai Taraqiati Bank Limited
Company typeUnlisted public company
IndustryFinance Banking
Founded1961; 63 years ago (1961)
HeadquartersIslamabad-44000, Pakistan
Area served
Pakistan
Key people
Tahir Yaqoob Bhatti, President/ CEO
ProductsBanking, Agri-Financing, Agriculture loans, zarai loans, agri. loans & Insurance products
RevenueDecreaseRs. 16.61 billion (US$58 million) - 2016[1]
IncreaseRs. 14.59 billion (US$51 million) - 2023[1]
IncreaseRs. 10.98 billion (US$38 million) - 2023[1]
Total assetsIncreaseRs. 215.9 billion (US$750 million) - 2016[1]
OwnerState Bank of Pakistan (76.23%)
Government of Pakistan (23.75%)
Number of employees
5,500[2]
ParentState Bank of Pakistan
Websiteztbl.com.pk

The Zarai Taraqiati Bank Limited (ZTBL) (Urdu: زرعی ترقیاتی بینک), formerly known as Agricultural Development Bank of Pakistan, is Pakistani state-owned agricultural development bank headquartered in Islamabad.

Founded in 1961 as the agricultural development bank, the bank was renamed in 2002 as Zarai Taraqiati Bank Limited (ZTBL) and was subsequently incorporated as a public limited company in 2002 under Companies Ordinance 1984.[3]

The bank provides agricultural credit and banking services to farmers across the country. It remains the largest public sector agriculture development financial institution in the country.[citation needed]

History

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Zarai Taraqiati Bank's history goes back to 1952 when Agricultural Development Finance Corporation was founded under a Central Act for the purpose of expanding financial facilities and promoting the development and modernisation of Agriculture in Pakistan. In 1957, the Agricultural Bank of Pakistan was established and advanced both short and long-term loans. It commenced operations in January 1959 in East Pakistan and in April 1959 in West Pakistan, following exemptions from certain restrictive Provincial Debt Laws.[4] Subsequently, the Agricultural Development Bank Ordinance was enacted on 18 February 1961. It facilitated the merger of the Agricultural Development Finance Corporation and the Agricultural Bank of Pakistan, based on recommendations from the Credit Enquiry Commission.[4] By 1961, the bank operated 73 branches, divided between 38 in West Pakistan and 35 in East Pakistan.[4]

On 14 December 2002, the Government of Pakistan renamed the Agricultural Development Bank of Pakistan (ADBP) as Zarai Taraqiati Bank Ltd (ZTBL).[5] ZTBL was registered under the Companies Ordinance 1984, and all assets, liabilities, and proceedings were transferred to and vested in Zari Taraqiati Bank with effect from 14 December 2002.[6]

References

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  1. ^ a b c d "ZTBL Annual Report 2015" (PDF). ZTBL.com.pk. Retrieved 19 July 2019.
  2. ^ ":: Zarai Taraqiati Bank Limited::". Archived from the original on 25 November 2010. Retrieved 12 May 2019.
  3. ^ "ZTBL playing key role in development of agro-based industry - Print - Business Recorder". 31 October 2019.
  4. ^ a b c "Review of the Pakistan Economy". The Pakistan Development Review. 1 (1): 141–164. 1961 – via JSTOR.
  5. ^ "Pakissan.com; ADBP converted into Zarai Taraqiati Bank to provide credit to small farmers". www.pakissan.com.
  6. ^ "ZTBL to play important role, says Mehdi". DAWN.COM. 15 December 2002.
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