BANKING FIGURES

Hawke's Bay Tribune, Volume XXVI, Issue 152, 12 June 1936, Page 13

BANKING FIGURES

Dominion’s Money Position Sound ROOM FOR EXPANSION Trading and banking figures quoted by Bir George Elliot in his address at the Bank of New Zealand meeting at Wellington to-day disclose a sound position. “ The values of both exports and imports are higher by approximately £4,000,000 sterling, the excess of exports, viz., £9,828,000 sterling, being sufficient to meet all oversea interest commitments,” said Sir George. “The exports and imports (in sterling) for tho last five years arc as follow; — Year to Excess of

‘ 1 The average total trading bank deposits lor the Alarch quarter amounted to £05,599,000, au increase of approximately £4,500,000 as compared with the March quarter of the previous year. Free deposits account for £3,229,000 of this increase. Advances show an increase of £2,028,000 for the same period. The figures for the past five years are:— Alarch Free Fixed Quarter Deposits Deposits Advances £ £ £

“Thc total trading banks’ balances with the Reserve Bank at March 30 amounted to £8,937,618, or say £5,600,000 in excess of the statutory balance required to be deposited. In addition, they held in London assets in connection with their New Zealand business aggregating the sum of £14,143,369 (N.Z.), The trading banks are therefore in a position materially to extend their lending operations in New Zealand.

“The London funds of the Reserve Bank of New Zealand and the funds of the trading banks held in London relative to their New Zealand business, together amount to over £3B millions in New Zealand currency—a position of considerable strength.”

Mar. 31 Exports £ Imports £ Exports £ 1932 30,857,(100 22,510,000 8,347,000 1933 .. 32.677,000 22,049,000 10,628,000 1934 .. 36,834,000 20,908,000 15,926,000 1935 .. 35,985,000 26,082,000 9,903,000 1936 .. 39,900,000 30,072,000 9,828,000

1932 .. 16,998,822 34,466,289 50,232,337 1933 .. 17,461,282 35,208,988 48,500,274 1934 21,657,550 39,455,883 41,575,520 1935 «. 23,965,035 37,135,308 43,077,115 1936 .. 27,194,213 38,405,479 45,105,912