Zarai Taraqiati Bank Limited

Pakistani government owned bank

The Zarai Taraqiati Bank Limited (ZTBL) , formerly known as Agricultural Development Bank of Pakistan, is Pakistani government owned agricultural development bank which is based in Islamabad, Pakistan. 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. 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.

Agricultural Development Finance Corporation was created in 1952 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. Both these institutions were merged as the Agricultural Development Bank of Pakistan in February 1961. On December 14, 2002, the Federal Government converted the Agricultural Development Bank of Pakistan (ADBP) into Zarai Taraqiati Bank Ltd (ZTBL). The new corporate structure redefined the banks as a single public limited company with an independent Board of Directors. Zarai Taraqiati Bank (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 December 14, 2002.