SAVINGS BANK BUSINESS
RECORDS SET IN LAST YEAR ANNUAL POST OFFICE REPORT (From Our Parliamentary Reporter) ' WELLINGTON, September 1. During 1953-54, the Post Office Savings Bank carried on a record amount of business, says the annual report of the Post and Telegraph Department, tabled in the House of Representatives today. “Not since the war years, when big overtime earnings and shortages of goods boosted savings to high levels, has the Post Office Savings Bank experienced such a buoyant period,” says the report. “Deposits for the first time topped the £100,000,000 mark. At £109,340,239, they exceed withdrawals by £10,205,456. This is the highest excess of deposits since 1946. “For the first time, also, the balance at credit of depositors exceeded £200,000,000. The total was £205.921,812 —an average of £135 a depositor, which is the highest ever recorded. Interest credited to depositors’ accounts amounted to a new record figure of £4,442,620. “The number of accounts in the Post Office Savings Bank totalled 1.520.988, meaning that about three out of every four persons of the total population had accounts in the bank. The total savings in the custody of the Post Office, including national savings, were £265,104,304 —a new record,” the report says. t
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Bibliographic details
Press, Volume XC, Issue 27444, 2 September 1954, Page 7
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201SAVINGS BANK BUSINESS Press, Volume XC, Issue 27444, 2 September 1954, Page 7
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