AUSTRALIAN BANKS
DEPOSITS UP, ADVANCES DOWN
Deposits of the ten Australian trading banks continue to expand. Averages for the quarter. ended June 30 show that total deposits reached a record of £351,464;000 —an increase of £29,127,000 over twelve months, and an increase of £2,611,000 over the quarter. This increase is a reflection of expanding industrial activity stimulated by the war, assisted by the expansionist trend of Australian monetary policy. Advances of £287,797,000 show a decline of £4^303,000 over twelve months, but over the quarter they rose, sharply by £7.162,000, from £280,635,000 to £287,797,000. This increase is probably the result of greater industrial activity combined with an increase of imports.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/EP19400803.2.139.7
Bibliographic details
Evening Post, Volume CXXX, Issue 30, 3 August 1940, Page 14
Word Count
109AUSTRALIAN BANKS Evening Post, Volume CXXX, Issue 30, 3 August 1940, Page 14
Using This Item
Stuff Ltd is the copyright owner for the Evening Post. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.