POST OFFICE SAVINGS BANK.
♦ WITHDRAWALS EXCEED DEPOSITS. (rp,£SS ASSOCIATION TELEGRAM.) WELLINGTON, July 13. A table showing the business of the Post Office Savings Bank in New Zealand by 10 year periods from 1868 to 1918, and yearly periods thereafter to March 31, 1933, is gazetted to-night. The number of branches increased from 46 at establishment in 1867, to 794 in 1919, and 873 in 1933. The excess of deposits over withdrawals steadily advanced from £1919 in 1867 to £3,796,070 in 1919. There was a slight drop in the excess of deposits over withdrawals in 1920, and until 1924 (when the excess of deposits was £88,051) there was an excess of withdrawals. From 1924 till 1933 the withdrawals consistently exceeded the deposits. For the year ended March 31, 1933, the excess was £2,702,751, compared with £6,024,095 last year. The number of accounts remaining open at March 31, 1933, totalled 797,097, compared with 877,090 in the previous year The total deposits in the year just ended amounted to £ 16,933,176 and i the withdrawals to £ 19,635,928. The 1 corresponding figures for the previous year were £19,463,985 and £25,488,081.
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Bibliographic details
Press, Volume LXIX, Issue 20907, 14 July 1933, Page 10
Word Count
185POST OFFICE SAVINGS BANK. Press, Volume LXIX, Issue 20907, 14 July 1933, Page 10
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