Building societies’ capital up 23 per cent
PA Wellington Building societies’ paid-up capital grew 32 per cent in the year ended March 31 from $902 million to $llO5 million, according to the report of the Registrar of Building Societies. The report, presented in Parliament, said that building societies showed stronger growth in the last financial year than in recent years. The most significant change was in relation to investments. Investments realised totalled $llO6 million, compared with $602 million the previous year, and societies
made investments of $1213 million compared with $687 million in 1983-84. The registrar, Mr K. M. Fisk, said that part of the explanation for the rise was .. that societies took advantage of opportunities that arose from abrupt changes in the financial sector. However, in the main it reflected the disciplines of a more sophisticated market in which liquidity management was an important factor. Mr Fisk said that as a consequence of deregulation, building societies were reassessing their role in the financial sector.
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Press, 29 June 1985, Page 27
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165Building societies’ capital up 23 per cent Press, 29 June 1985, Page 27
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