OPERATIONS OF BANKS.

New Zealand Herald, Volume LXVIII, Issue 20922, 11 July 1931, Page 12

OPERATIONS OF BANKS.

CHANGES DURING THE YEAR. DEPOSITS AND ADVANCES. A summary of the banking returns for the June quarter published yesterday showed,, in comparison with the corresponding returns last year, a reduction in deposits of £2,578,651 and a reduction in advances of £667,628. Details of the returns for the several banks show that the contraction of deposits was general. Two banks increased their advances.

Following is a comparison of the total deposits, fixed and free, held by the banks:—

Bank. * June, 1930. June, 1931. Decrease. N. Zealand £25,929,647 £24.837,054 £1,091,993 Union . . 6,038,885 5,763,716 270,169 N. S. Wales 6,541,391 6,004,744 536,047 Australasia 5,091,000 4,704,118 386,882 National . . 8,502,836 8,413,485 89,351 Commercial 1,644,279 1,440,670 203,609

Totals .. £53,748,038 £51,169,387 £2,578,651 The distribution of advances, including discounts, was as follows:

Bank. June, 1930. June, 1931. Decrease. "N. Zealand . £24,399,720 £24,831,397 £431,671* Union . . 6,195,240 6,005,312. 189.934 N.S.Wales 6,726,314 6,409,274 317,040 Australasia . 4,932,722 4,977,05S 44,936* National . . 10,115,290 9,035,255 480,035 Commercial 1,693,861 1,536,638 157,226

Totals . . £54,003,162 £53,395,534 £067,628 •Increase.

Only the Bank of New Zealand shows an excess of deposits, but the margin is merely £6257, as against £1.529,921 a year ago. The, Bank of Australasia has an excess of' advances of £273,540, against an excess of deposits of £168.278 last year. In the case of the National Bank, the excess of advances has declined from £1,612,454 to £1,221,770. The other banks have all increased their excess of advances.