Overdrafts Lowest Since 1954
Advances and discounts by the New Zealand trading banks dropped to their lowest point in nearly three years last month. At February 20 this year they totalled £ 151.3 m according to preliminary figures issued by the Reserve Bank. This represents a drop of £l.6m in a month and £ 15.3 m in a year. At the end of June, 1954, overdrafts totalled £ 149.4 m and since then they have consistently been above £lsom. Net overseas assets of the New Zealand banking system at February 20 this year totalled £ 84.5 m thus maintaining the improvement on yearago levels begun last October. The latest figure is £6.Bm above the total a year earlier, but nearly that amount below the comparable figure for 1955.
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Press, Volume XCV, Issue 28223, 11 March 1957, Page 13
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124Overdrafts Lowest Since 1954 Press, Volume XCV, Issue 28223, 11 March 1957, Page 13
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