BANK OF NEW ZEALAND
MORTGAGE BRANCH RETURN. A further considerable increase in the amount of loans from the long-term mortgage department, of the Bank of New Zealand is shown by the account for the September quarter, published in the Gazette. The average amount for the period was £892,250, which is £111,513 more than in the June quarter. In the corresponding period last year there was an increase of £172,534, which is the largest addition in any quarter since the establishment of the, special department at the beginning of 1927. •
During tiie 12 months from the third quarter of 1927 to that of 1928, the bank’s long-term mortgage loans increased by £333,000. In the past 12 months, the increase has been £377,000. As the capital of the Department is £703,125, the balance of the advances has been provided by temporary transfers, to the amount of £189,125, from the ordinary hanking department. It has already been announced that the bank has 'decided to" raise £300,000 by the issue of debentures.
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Hokitika Guardian, 1 November 1929, Page 2
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168BANK OF NEW ZEALAND Hokitika Guardian, 1 November 1929, Page 2
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