AUCKLAND SAVINGS BANK.

Press, Volume LXII, Issue 18680, 1 May 1926, Page 16

AUCKLAND SAVINGS BANK.

The accounts of the trustee-controlled Auckland Savings Bank for the year ended March 31st show considarable progress, 'l'he deposits received during the year amounted to £3,876,114, as compared with £3,643,153 in the previous year, -and the withdrawals totalled £3,762,356, or £230,778 moro than in tho preceding year. The excess of depositß over withdrawals amounted to £113,758, and in addition to this interest credited to depositors' accounta amounted to £177,140. The amount at credit of depositors at the close of the year wag £4,453,291, u against £4,162,383 at the close of the previous year, an increase of over £290,000. The new accounta opened during the year numbered 13,994, against 13,186, an increase of 1108 in the Saving's Bank, but a decrease of 300 in the Penny Bank. The accounts closed during the year numbered 8510 against 9201, and the accounts remaining open were increased by 5484 to 108,421. Depositors' transactions totalled 535,131, an increase of 34,269. The cash handled by all departments of the bank totalled £8,767,301. During the year the sum of £370,70j was advanced on mortgage, and the sum of £194,035 was repaid. In all 595 repayments «ere made. The mortgages fully repaid numbered 180. The net increass in the number of mortgage accounta for the year was 372._ a.nd the total now held i 5 2751. Ths average amount of city and suburban loins is £737, while farm securities average £2555. The 2754 mortgages held on March 21st aggregated over £2,358,000 with interest, and during the year it has been necessary to write off losses amounting to £978. The total fund 3 stand in the balancMhe«t »t £4,871,303, an increase of £334,210. After making full provision for all ascertained loss and depreciation, there is a surplus of £57,688, to which must be added the amount brought forward, £2655, making £60,343. Out of this £50,000 ha* been added to the reserrs fund, raising that fund to £405,000, and leaving £10,343 to ba carried forward.