PEOPLE'S SAVINGS

New Zealand Herald, Volume LXXIII, Issue 22399, 21 April 1936, Page 10

PEOPLE'S SAVINGS

AUCKLAND BANK RETURNS IMPROVEMENT IN YEAR Figures which indicate a much brighter tone and a return of prosperity in the Dominion, are disclosed in the annual balances of the Post Office Savings Bank and the Auckland Savings Bank. The Auckland Savings Bank, for the first time since it was established, has exceeded 1,000,000 in tho number of deposits and withdrawals made during the year. The manager, Mr. F. E. Sutherland, stated that the figures showed a definite improvement, particularly with regard to deposits. The department controlling tho thrift clubs of the bank had this year experienced its greatest increase. There were 265 thrift clubs in the city, and during the period between March 31, 1935, and the same date this there were 2300 new thrift club accounts opened. The amount of deposits at the close of the year was £4590 above that of last year. Thrift clubs have been in operation since 1926 and oyer the last six years the amount of deposits at the close of each financial year increased from £17.360 to £31,340. The Auckland branch of the Post Office Savings Bank completed its annual balance last week, and it is reported that for the year ended March 31 an increase is shown in the credit balance of £854,773.