SAVINGS BANK

Hokitika Guardian, 28 April 1938, Page 5

SAVINGS BANK

- I : • .. - AUCKLAND PROGRESS. (Per Press Association—Copyright). AUCKLAND. April 27. Steady and continued progress in all departments was reviewed in the ninetieth annual report of the Auckland Savings Bank, presented at the animal meeting of trustees. Mr (I. Nicholson, .who has been a member of the. Board for the last 20 years, and who .was previously president in 1922-23; wis; appointed m-com-ing president. The retiring, president Mr A. Harris, was appointed deputypresident. : In his presidential report, Mr Harris said the total assets, which now stood at £9,580,000, for the first time exceeded £9,000,000.. “The . usual increase in depositors’ balances shows no abatement,” . continued Mr Harris. “In beeping with ' the growth of deposits. there has been an increase of depositors, who now number 184,266, the increase being 7760. The average amount in each account . has increased bv £1 os to £64 2s 3d.” J •

Thrift ciubs-'sliafdd'ih. the continued growth,’ and there were 291- of the?e established., in workrooms, and business Grins of the . city and suburbs. . The,,, schools’ banks department also demonstrated*.that. scholars were not Unmindful of the- advantages of saving. ■ ■ * ,* '

■ A record, volume of deposits • and withdrawals was handled ; during the year. No-less .than' £9..760.000 .passed' over the hank’s counters. The reserve account of £885,000 rdvbaled a : very sound position,’ and represented 10.2 per cent of ‘ the liability : to depositors and the provident fund. ' '