Government of the Federated States of Micronesia

FSM Banking Boards's March 31, 1997 Consolidated Balance Sheet

PALIKIR, Pohnpei (FSM Information Service): September 23, 1997 - The Consolidated Balance Sheet for the FSM Commercial Banking System for the Quarter ending March 31, 1997, reflected a decrease in total assets by 9,848,000 or eight percent from the same period in 1996, according to the FSM Banking Commissioner.

The total assets for the Quarter ending March 31, 1997, was $120,399,000, while the total for the Quarter ending March 31, 1996 was $130,247,000.

The total Liquid Assets was $71,917,000 for the Quarter ending March 31, 1997, down from $76,188,000 for the Quarter ending March 31, 1996.

The total deposits were $115,887,000 and $106,484,000 for the Quarters ending March 31, 1996 and 1997, respectively.

The total loan for the Quarter ending March 31, 1997 was 45,676,000 but total loans for the same period ending March 31, 1996 was $51,419,000. A decrease in loans of approximately $5.5 million from the previous period.

Comparatively, while the banks took in $106,484,000 in total deposits, their total loans reported was $45,676,000, or approximately 43 percent loan to deposit ratio for the quarter ending March 31, 1997.

The FSM Banking System consists of the Bank of the FSM, a domestic bank and branches of two foreign banks, Bank of Guam and Bank of Hawaii.


For further information on this release, please contact:

FSM Office of the President
Public Information: Press, Radio, Video
P.O Box 34
Palikir Station, Pohnpei, FM 96941
Tel.: (691) 320-2548/2092
Fax.: (691) 320-4356
e-mail: fsmpio@mail.fm
http://www.fsmpio.fm/