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Zarai Taraqiati Bank Limited

Pakistani government-owned bank

Summary

Pakistani government-owned bank

Field	Value
name	Zarai Taraqiati Bank Limited
former_name	Agricultural Development Bank of Pakistan (1961–2002)
logo	Zarai Taraqiati Bank Limited logo.png
image	ZTBL Headquarters (cropped).jpg
image_caption	Zarai Taraqiati Bank Limited (ZTBL) headquarters in Islamabad
type	Unlisted public company
foundation
location	Islamabad-44000, Pakistan
key_people	Tahir Yaqoob Bhatti (CEO)
area_served	Pakistan
industry	Banking
products	Agricultural loans
revenue
revenue_year	2022
operating_income
income_year	2022
net_income
net_income_year	2022
equity
equity_year	2022
assets
assets_year	2022
num_employees	5,500
owner	State Bank of Pakistan (76.23%)
Government of Pakistan (23.75%)
parent	State Bank of Pakistan
website
footnotes	Financials

Government of Pakistan (23.75%)

The Zarai Taraqiati Bank Limited (ZTBL) (; ) is a Pakistani state-owned agricultural development bank headquartered in Islamabad.

Founded in 1961 as ADBP, 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.

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.

History

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. 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. By 1961, the bank operated 73 branches, divided between 38 in West Pakistan and 35 in East Pakistan.

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

References

"Zarai Taraqiati Bank Annual Report 2022".
":: Zarai Taraqiati Bank Limited::".
(31 October 2019). "ZTBL playing key role in development of agro-based industry – Print – Business Recorder".
(1961). "Review of the Pakistan Economy". The Pakistan Development Review.
"Pakissan.com; ADBP converted into Zarai Taraqiati Bank to provide credit to small farmers".
(15 December 2002). "ZTBL to play important role, says Mehdi".

Wikipedia Source

This article was imported from Wikipedia and is available under the Creative Commons Attribution-ShareAlike 4.0 License. Content has been adapted to SurfDoc format. Original contributors can be found on the article history page.

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