BANK RETURNS
PAST QUARTER’S FIGURES. DECLINE IN ADVANCES. The banking “Averages for the first quarter of the year, when compared with those for the March quarter of 1931, reflect the abnormal economic conditions that have prevailed in the Dominion. Nevertheless, a slight improvement is indicated when the latest figures are compared with those of the three months ago. The main changes in the figures as compared with those of a year ago are as follow: £ Government deposit?, decreased . 1,017,352 Free deposits decreased 1.331,031 Fixed deposits increased 1,544,203 Advances decreased 3,744,759 Note circulation increased 72,764 Coin and bullion decreased ... 356,671 The position of the throe classes of deposits compares as follows: Mar., 1931. Mar., 1932. Dccroase.
FREE AND FIXED DEPOSITS. The free deposits have fallen during the year from £18,329,853 to slightly under £17,000,000, a decrease of and well over £8,700,000 less than tor the March quarter. The shrinkage in free deposits has been shared by all the banks, as is shown in the following comparative table: Mar., 1931. Mar., 1932. Decrease. Bank — £ £ £
As compared with the quarter ended December 31, 1931, free deposits have increased by £853,384, while fixed deposits have declined by £109,306 from the record figure of £34,635,595 at which they stood three months ago. The growth of fixed deposits has been fairly steady for some years, as is shown by the following comparative table showing the movements in free and fixed deposits for the March quarter for the last five years:
A SLIGHT IMPROVEMENT. In his analysis of the banking figures for February, the Government Statistician remarked that internal business appeared to have brightened during the month as the volume of bank debits reached a level 19.4 per cent, ahead of that recorded for January, the total being practically identical with that of February, 1931. He further showed that the continued improvement in the Dominion’s trade balance was reflected in the figures of advances and deposits which showed a slight increase over January; and he stated that “confidence in business enterprise is gradually increasing, the movement of funds from fixed to free terms of deposit having continued during the month under review.” The substance of these comments appears to be borne out by the movements in free and fixed deposits for the March quarter as compared with December quarter. DECREASE IN ADVANCES.
As compared with a year ago, the advances show a marked contraction of over £2,500,000. The position for
the purely New Zealand banks account for over £2,500,000. The position for tho March quarter compares as follows : Mar., 1931. Mar., 1932. Decrease. Bank— £ £ £
53,264,390 49,519.631 3,744,759 Tho advances and ‘discounts together total £50,232,337, against £54,332,234 a year ago and £53,676,778 for tho March quarter of 1930. The discounts at £712,706 compare with £1,067,844 a year ago, and £1,229,642 for the March quarter, 1930. Compared with the December quarter, 1931, advances are lower by £798,057, while discounts show an increase of £13,613. The note circulation of £5,875,025 compares with £5,926,902 for the December quarter, 1931, and £5,802,261 for the March quarter of last year, and £6,417,038 for the corresponding quarter of 1930. The coin and bullion at £6,598,701
is well below the figure of £6,955,372, at which it stood twelve months ago. — Dominion.
Deposits— £ £ £ Govt.. ... 2,889,126 1,871,774 1,017,352 Free . 18,329,853 16,998,822 1,331,031 Fixed ... . 32,922,086 34,466,289 *Increase. *1,544,203
N. Zealand 8,626,126 8,153,183 474,943 Union 2,136,332 1,959,860 176,472 N.S.W. ... 1,991,283 1.803,663 187.620 Australasia, 1,771,973 1,559,749 212,224 Nat. of N.Z. 2,958,625 2,771,953 186,672 Commercial 843,514 750,414 93,100 18,329,853 16,998,822 1,331,031
Free Fixed March deposits. deposits. Total. quarter. £ £ £ 1928 ... 24,482,151 25,476,144 49,958,295 1929 ... 25,736,743 29,608,752 55,345,495 1930 ... 23,905,822 30,097,419 54,003,241 1931 ... 18,329.853 32,922,086 51,251,939 1932 ... 16,9984822 34,466,289 51,465,111
N. Zealand 24.556,072 22,859,946 1,696,126 Union 6,231,055 5.944,057 286,998 N.S.W. ... 6,397,241 5,903,779 493,462 Australasia 4,936.017 4,734,807 201,210 Nat. of N.Z. 9.584,705 8,708,400 876,305 Commercial 1,559,300 1,368,642 190,658
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Bibliographic details
Manawatu Standard, Volume LII, Issue 110, 9 April 1932, Page 5
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634BANK RETURNS Manawatu Standard, Volume LII, Issue 110, 9 April 1932, Page 5
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