TRUSTEE SAVINGS BANKS.
YEAR'S TRANSACTIONS. SMALL EXCESS OF DEPOSITS. A further increase in the funds to the credit of depositors in trustee savings banks is shown by the aggregate returns for the 12 months ended March 31. Deposits were less than in the previous year and withdrawals were greater, but the balanco was in favour of deposits. There are five of these banks—in Auckland, New Plymouth, Dun'edin, Invercargill and Hokitika.
Following is a comparison of the returns for recent years of the transactions in the five banks: —
Deposits. Withdrawals. Excess. 1928-29 .. £6,307,509 £5,839,060 £467,849 1929-30 .. 6,703,622 6,324,762 378,800 1930-31 .. C.550.293 6,512,468 67.530
With the addition of interest, the total amount to the credit of depositors will exceed £9,500,000. During the nine months ended December 31, withdrawals from the Post Office Savings Bank exceeded deposits by £3,157,642. As the year's interest will be only about £1,800,000, total funds to the credit of depositors in the State Savings Bank will be reduced to about £48,000,000.
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Bibliographic details
New Zealand Herald, Volume LXVIII, Issue 20868, 9 May 1931, Page 9
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163TRUSTEE SAVINGS BANKS. New Zealand Herald, Volume LXVIII, Issue 20868, 9 May 1931, Page 9
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