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.
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Evening Post, Volume CXXX, Issue 30, 3 August 1940, Page 14
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109AUSTRALIAN BANKS Evening Post, Volume CXXX, Issue 30, 3 August 1940, Page 14
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