Banking Statistics – March Quarter 2024

May 23, 2024 | Banking Statistics

Key facts

For the March Quarter 2024:

  • Net foreign assets increased to 395.1 million when compared to December quarter (375.9 million) for all banks surveyed.
  • Total lending for the March quarter 2024 was recorded at 235.7 million decreasing by 0.1 per cent when compared to the December quarter 2023.
  • The money supply increased by 3.3 per cent over the December quarter 2023.
  • There were no changes in rates for this March 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.

Share This

Share This

Share this post with your friends!