TRADING BANKS

Evening Post, Volume CXXVI, Issue 73, 23 September 1938, Page 12

TRADING BANKS

ADVANCES INCREASE

DgCUMIMG DEPOSITS

Returns of fhe six trading banks doing business in New Zealand as at the close of business on August 29, 1938, compared with returns for July 25, 1938, as furnished to the Reserve Bank of New Zealand, are as follows:— LIABILITIES. July 25. Aug. 29. £(N.Z.). £(N.Z.). Demand liabilities In Xew Zealand 34,785,160 '>33,710,441 Time liabilities In New Zealand 30,790,441 30,654,645 Demand liabilities elsewhere than in N.Z. incurred in respect of N.Z, ■business 1,628,930 1,562,878 Time liabilities elsewhere than in N.Z. Incurred In respect of N.Z. business . 289,339 300,321 N.Z. business excess oi' assets over liabilities 18,507,111 19,059,600 Totals £86,006,987 £85,287,555 tr ASSETS. Reserve balances held in Reserve Bank of New Zealand 7,447,591 6,474,817 Overseas assets in respect of New Zealand business— (1) In London . 7,261,211 5,835,691 (2) Elsewhere . . 2,895,459 — | Gold and gold bul- - i lion, held In N.Z. . 23 23 Subsidiary coin held in N.Z 884,729 $37,435 Advances in N.Z. .. 54,248,028 34,946,836 Discounts 459,454 699,008 Keserve Bank of N.Z. notes 3,988,307 3,798,856 Securities held in New Zealand— (1) Government 6,721,217 7,671,217 (2) Other than Government 271,537 270,438 Value of land, buildings, furniture, fittings, and equipment held in N.Z. 1,829,431 1,837,873 Totals, £56,00G,987 £85,287,885 Aggregate unexercised overdraft ■ authorities £24,764,398 £23,630,590 •Includes transfers from Bank of New Zealand long-term mortgage fund of £419,966. OVERSEAS ASSETS REDUCED. Overseas assets in respect to New Zealand business held by the banks in London and elsewhere than in London at the end of August 30 for the past three years were as follows: — London. Elsewhere. £(N.Z.). £(N.Z.). August 31, 1936 14,437,895 5,957,1211 August 30, 1937 9,269,550 4,293,700 "August 29, 1938 5,835,691 2,895,691 DEPOSITS AND ADVANCES. The returns show, as compared with those of July 25, 1938, a decrease in deposits for terms and on current account amounting together to £1,216,515. Advances (including bills discounted) have increased on the month by £938,362. Deposits, free and fixed, at July 25, 1938, and August 29, with advances and discounts, were as follows: — July 25. Aug. 29. £ £ -f Deposits 65,581,601 64,365,086 Advances 54,707,482 55,645,844 Excess deposits .. £10,874,119 £8,719,242 The excess of deposits over advances for June 27. 1938, was £11,284,907. For August, 1937, the excess was £17,583,863, compared with £8,719,242 for August, 1938.