BANKING BUSINESS
OPERATIONS OF “BIG FIVE.” RECORD FOR DEPOSITS. RISE IN ADVANCES. (United Press Association—By Electric Telegraph—Copyright.) Received January 22, 9.40 a.m. LONDON, Jan. 21. The balance-sheets of the “Big Five” banks show the largest rise in advances since 1929, the total of £849,800,000 being only 3.2 per cent, below the 1329 record.
Deposits reached a new high record of over £2,030,000,000, but the rate of growth slackened during the year. Investments fell by almost £21,000,000 and the banks were at last obliged to reduce their other assets in order to provide additional advances. Security bill portofolios and call money were all reduced as, despite the easy money policy of the authorities, cash supplies were slightly lower.
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Manawatu Standard, Volume LVIII, Issue 46, 22 January 1938, Page 9
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117BANKING BUSINESS Manawatu Standard, Volume LVIII, Issue 46, 22 January 1938, Page 9
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