Key facts

For the September Quarter 2023:

• Net foreign assets increased to 374.0 million when compared to June quarter (345.1 million) for all banks surveyed.
• Total lending for the September quarter 2023 was recorded at 239.0 million increasing by 2.1 per cent when compared to the June quarter 2023.
• The money supply increased by 7.5 per cent.
• There were no changes in rates for the September quarter 2023.

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.