THE AUCKLAND SAVINGS BANK.

Auckland Star, Volume XXIII, Issue 43, 20 February 1892, Page 4

THE AUCKLAND SAVINGS BANK.

The balance-sheet of the Auckland Savings Bank for the year ending December 31st has been issuod, and shows that this institution maintains its popularity and exhibits steady growth. The number of depositors was increased during the year by 539, the total at the close of tho year being no fewer than 16,289—a number thab cannot but be regarded as remarkable when we remember that the operations of the institution are confined to the city. The withdrawals last year, however, exceeded the deposits, but; the added interest, amounting to £43,256, brought, up the total amount of the deposits ab the close of tho year to £505,446, a substantial evidence of the thrift and wide distribution of comforb prevailing among the industrial classes, who are the chief users of the bank. The deposits during 1891 were £316,037 and the withdrawals £338,231. Probably tho high rates of interest being paid during tho year by the other banks tended to diminish the deposits at this institution. The trustees, in the absence of good outlets for investments, have also rip-idly limited the amount of interest-bearing deposits allowed to any one depositor. The detailed figures attached to the statement show that the great majority of the depositors represent small amounbs. There are 10,178 depositors of £20 and under, 2,-238 of £20 to £50, £1,780 of £50 to £100, ancl 2.059 of £100 and upwards.

The penny bank continues to grow in favour. The accounts at the close of the year numbered 6,459, being an increase of 403 on the figures for the previous year. The total amount to credit also exhibited an increase of £1,536. The number of depositors at this branch was 17,033, and tho aggregate amount to credit only £9,091. These figures afford strong evidence of the admirable work which the institution is performing in the community.