ISLAMABAD - The National Bank of Pakistan (NBP) will disburse Rs15 billion loans under the Prime Minister Youth Business Loan Scheme (PMYBLS) during the ongoing calendar year,” said President NBP Syed Ahmed Iqbal Ashraf while an exclusive interview here on Thursday.

“We are waiting for making disbursement to 4,800 applicants who will be selected through balloting in order to implement NFC formula for catering requirements of all four provinces,” he said.

“We have envisaged target to disburse Rs15 billion till December this year,” he said and shared that the borrowers were not coming for getting second instalments and they were informing them through letters to come and get their second instalments.

He told that NBP’s deposits stood at Rs 1.3 trillion and we are providing service to our 7 million account holders. Deposit target of RS 250 billion for year 2015 to achieve status of number one bank of the country in term of deposits, he added.

Talking about the performance of the bank, he said that profit before tax increased by 211pc in 2014 and stood at Rs. 22 billion against the Profit ratio of 173pc from Rs 5.5 billion of previous year 2013.

The agriculture credit, he said, provided by NBP stood at Rs75 billion out of total targeted amount of Rs500 billion for all banks.

To a question, he said that the NBP and HBL were providing financing of $1 billion for power project in Punjab to generate electricity through LNG project. Which would generate 1200 mega power for national grid, he informed terming it a mega project for the solution of current power crisis.