Record growth in C.S.B. funds
Record growth in depositors’ funds last month has enabled the Canterbury Savings Bank to extend both its mortgage and personal loan lending, the general manager (Mr F. Dickson) announced yesterday. The net excess of deposits over withdrawals for May was the highest-ever in the T.nk’s 18 year history. The $10.3 million recorded was slightly more than the previous record of $lO.l million in April. Total funds at the C.S.B. now stand at almost $3OO million.
these figures reflected the effects of the recent civil service back pay as well as the start of tax refund bankings. explained Mr Dickson. May also saw a nearrecord gain in new accounts, bringing the Bank’s total number of accounts to more than 400,000. "In extending mortgage lending and especially personal loan lending, the C.S.B. can now offer customers with sound savings records an alternative to borrowing elsewhere at
mugh higher interest rates or resorting to costly hire purchase agreements,” Mr Dickson said.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19800614.2.122.14
Bibliographic details
Press, 14 June 1980, Page 19
Word Count
163Record growth in C.S.B. funds Press, 14 June 1980, Page 19
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.
Log in