NATIONAL BANK OF N.Z.

Dominion, Volume 29, Issue 255, 24 July 1936, Page 14

NATIONAL BANK OF N.Z.

Balance-sheet Figures A feature of tlie accounts of the National Bank of New Zealand, Limited, for the year ended March 31, is a sharp increase in advances, which at £10,361.255, are the highest since 1931. In that year. £10.638,587 was on loan, but there was a fall to the low level of £8,924,944 in 1934. The recovery in advances is a favourable sign, indicating revival in business and a call for bank accommodation, , . , , At the same time the level of deposits remains abnormally high and the total at March 31, £13,655,182, showed an increase of £100,323. and was only surpaeised by tlie 1934 figure. £15.595,886, in being a record for the bank. The proportion of advances to deposits, 76 per cent., is much below the normal. Changes in balance-sheet figures are as follows:—

The bank still has £99.821 of its own notes outstanding, only £51,942 having been retired last year, against £959,461 in the previous year. The chief movement in the assets is a fall of £1,497.266 in the holdings of Government securities, due largely to the sale of all Australian Government loans. British and New Zealand Government securiites are shown “at market value” instead of “under market value.” probably cost price, as previously. The hank cash and call money Ims been increased substantially. Total assets are £237.933 higher at £18.968,774. A statement of the profit and loss position was printed in this column on June 24.

LIABILITIES. Paid capital .. £ 2.000.000 £ Reserve fund .. 1,000,000 Currency reserve 500,000 Notes in eireulation 00.821 ♦51,942 Deposits 13.055.182 tlOO.323 Other liabilities 1,550,812 fl 90,050 P. & L. account 153.059 *1,407 ASSETS. ■ .£ £ Cadi items .... 3.307,418 f038,091 Govt, securities 2.697,211 ” 1.497,266 Bills receivable 1,323,114 1154.399 Remits in (ransit 314,660 495,477 Bills discounted 340.220 *87,360 Advances 10.301.255 1938.820 Premises, etc. . 624,800 *4.234 ’’Decrease •(•Increase.