On 28 November 2014, the Ministry of Finance and Economic Management (MFEM) National Statistics Office (NSO) released the banking statistics for the September quarter.
The report shows:
• Net foreign assets jumping to 65.6 million for all banks surveyed in this quarter. This is a 37.3 per cent rise over the June quarter 2014;
• Loans and advances were recorded at 242.3 million, down by 1.6 per cent over the June quarter 2014;
• Demand deposits (M1) have inflated the total money supply by 12.5 per cent and backed by a rise 2.3 per cent in term/savings deposits (M3); and
• ANZ has raised its rates for personal savings and also its term deposits, while all other banks rates remained the same.
For more information on Banking Statistics, please visit the MFEM Website.