Key facts

For the September Quarter 2024:

  Assets & Liabilities

• Net foreign assets increased to $429.2 million from $415.8 million in the June quarter.

  Loans & Advances by Industry

• Total lending declined by 2.2% to $225.9 million.
• Sectors with highest increase in borrowings:
  • Agriculture: +40.5%
  • Restaurants & Bars: +20.6%
  • Information & Communication: +10.0%
• Sectors with largest decline in borrowings:
  • Travel Agents & Tour Operators: -32.8%
  • Fishing & Pearls: -10.5%
  • Professional & Administrative: -9.6%

  Money Supply

• Narrow money (M1) increased by 3.7%.
• Broad money (M3) increased by 7.9%, mainly due to an 11.5% rise in term and savings deposits.

  Interest Rates

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

MONEY SUPPLY 2020-2024

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.