BANKING RETURNS
THE PAST QUARTER BIG INCREASE IN ADVANCES. EXPANSION IN FIXED DEPOSITS. (Per United Press Association.) Wellington, January 10. The banking returns for the last quarter of 1929 reflect a rather heavy increase in imports to finance which the banks have been drawn upon. There is a big increase in advances. At the same time, free and fixed deposits have expanded,, particularly the latter. Government deposits have contracted by about £600,000 compared with the corresponding quarter of the previous year. Deposits, free, fixed and Government totalled £53,732,096 in 1928 and £55,015,135 in 1929. Demand deposits in the last quarter of 1928 were £22,179,748 and in 1929 £22,728,494, an increase of £548,746. Fixed deposits in the 1928 quarter were £29,481,658 and in 1929 £30,628,239, an increase of £1,146,581. Advances in the 1928 period were £46,810,684 and in 1929 £53,212,587, an increase of £1,146,581. The aggregate of advances and discounts for the quarter was £53,807,931. In 1928 the figure was £48,101,104. The excess of advances over deposits was £451,198 but m 1928 there was an excess of deposits ol £3,560,302.
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Bibliographic details
Southland Times, Issue 20979, 11 January 1930, Page 6
Word Count
179BANKING RETURNS Southland Times, Issue 20979, 11 January 1930, Page 6
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