Key facts

For the December Quarter 2024:

  Assets & Liabilities

• Net foreign assets increased to $471.8 million from $429.2 million in the September quarter.

  Loans & Advances by Industry

• Total lending increased by 8.2% to $244.6 million.
• Sectors with highest increase in borrowings:
  • Information & Communication: +1722%
  • Arts and Recreation: +132.5%
  • Professional Administrative: +108.1%
• Sectors with largest decline in borrowings:
  • Trade: -50.6%
  • Restaurant and Bars: -44.7%
  • Agriculture: -42.3%

  Money Supply

• Narrow money (M1) decreased by 8.9%.
• Broad money (M3) decreased by 2.8%, due to overall fall in demand deposits over the quarter.

  Interest Rates

• No changes in interest rates for the December quarter 2024.

More Information about Banking Statistics

Aggregates are compiled from the Banking Survey which covers the Four commercial banks in the Cook Islands: ANZ, Westpac, Bank of the Cook Islands (BCI) and Capital Security Bank (CSB).  The Cook Islands does not have a Central Bank and uses the NZ Dollar as its currency.

Narrow Money (M1) consist of Notes and Coins in circulation and Demand Deposits. M2 consist of narrow money (M1) and quasi money (savings, demand and term deposits), Net foreign position of the banks, Net domestic credits.

Transactions are valued in accordance to international standards.