DUNEDIN SAVINGS BANK

Otago Daily Times, Issue 18543, 2 May 1922, Page 3

DUNEDIN SAVINGS BANK

ANNUAL STATEMENT. A SPLENDID RECORD. The Dunedin Savings Bank trustees had before them on Friday the statement of accounts for the year ended March 31. The document stated that the amount lodged by depositors for the year showed an appreciable falling-off, the total being £395.109 10s 2d, against £530.346 8s 4d the previous year. Inis decrease of £135,236 8s 2d was entirely due to the depression through which the community, in common with all other communities, was passing. People had to use their money as they got it. The wi.hdrawals totalled £359.722 16s 9d, against £409,635 14s the previous year. This reduction was the natural result of less being deposited. The number of depositors was 6396. an increase of 412 for the year So. whilst the money deposited was smaller in bulk, it came from a greater number of persons. The sum lying to the credit of the 6396 depositors was £690,407 17s, an increase of £34,335 2« lOd, compared with the previous year. The net amount lying to credit of profit and loss account was £38,151 16s 7d, representing the net profit for the year. It showed an increase for the year of £5527 15s lid. The depositors had earned in interest the. large sum of £28,943 9s sd, by depositing with the bank. The assets totalled £731,136 5s 6d, an increase for the year of £71,410 8s 9d. A few further figures show how the Dunedin Savings Bank business has grown. The number of depositors hag increased from 2532 in 1915 to 6396. The sum to credit of depositors has risen from £112.438 0s lOd in 1915 to £690.407 17a. The interest earned by depositors has risen in the seven years from £3789 3« 7d' to £28,943 9s sd. The assets, valued in 1915 at £130,622 2s 6d, now stand at £731,136 5s 6d.