BANKING POSITION
MARCH AND JUNE RETURNS
The average returns of the bunks in New Zealand for the quarter ended 30th June are not yet available, but those for the week ended lath arc, and they show that since the end of March free deposits, or money on current account, have dropped by nearly £1,000,000/ and that iixed deposits have increased by nearly half a million. Advances and discounts combined have likewise declined but by some £2,000,000. The exact figures arc as follows: — 30th March, loth Juno. £ £ Free deposits .... 18,570,217 17,743,579 Fixed deposits .. 32,780,790 33,274,147 Total deposits . £51,351,007 £51,018,026 Advances and discounts 54,195,]0(i 52,116,289 Advances exceed both deposits .. 2.844.159 1,098,203 These interim returns show that the banks are-reaching towards an equilibrium of deposits and advances, but for finance in New Zealand to be normal at this, the best period of the year, the deposits should be well in excess of advances, as they have been in former years ending 30th June. For instance, in 1925, ]925, and 1929, when they were from £7,500,000 to £9,600,000 more. But at 30th June last year advances were £315,121 more, and for the same quarter of 1926 they were £445,392 more.
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https://paperspast.natlib.govt.nz/newspapers/EP19310708.2.124.7
Bibliographic details
Evening Post, Volume CXII, Issue 7, 8 July 1931, Page 13
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196BANKING POSITION Evening Post, Volume CXII, Issue 7, 8 July 1931, Page 13
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