ADVANCES STILL EXCEED DEPOSITS

Sun (Auckland), Volume I, Issue 170, 8 October 1927, Page 11

ADVANCES STILL EXCEED DEPOSITS

N.Z. BANKING RETURNS POSITION IMPROVING Returns of the six banks operating in New Zealand for the September quarter record free deposits at the lowest since December, 1918. Fixed deposits, however, register a considerable increase, being £2,323,354 ahead of the figures for the corresponding period of last year. Making a similar comparison, free deposits are £3,092,457 down. Advances record an increase over deposits of £3,601,481, compared with a similar excess a year ago of £2,341,093. Returns of advances for the September quarter as compared with those for the corresponding period of last year show an increase of £722,912. Dominion returns for the September quarter with the figures for the corresponding period of last year are as follow:

Sept., 1927 Sept., 1926 Government deposits 2,089,147 4,of7 503 Free deposits 21,815,504 24,907,961 Fixed deposits 23,39S,246 21,074,892 Advances 47,47o,363 46,692,451 Discounts 1,399,867 1,631 495 rSn U L a « 1 i 0 h«i ( ji 9te) 6,279,388 6,485,438 Co ”i bullion 7,873,625 7,792!331 While the excess of advances is greater than it was a year ago, the refor the last five quarters show a considerable improvement. They are a = follow: — Quarter. Deposits. Advances. Excess of Advances Sept.,, 1926 45,982,853 48,3?3 946 P r ec -- 1926 44,236,650 57,273,211 March, 1927 45,528,812 50|s00 808 June, 1927 46,490,366 50,753 106 Sept., 1927 45,213,750 48;S15;231 £ 2,341,093 7,035,561 5,271,996 4,262,740 3,601,481