POST OFFICE SAVINGS BANK.
For the financial y.ear ended March 31, 1924, the deposits in the Post Office Savings Bank amounted to £29,598,372, and the withdrawals to £29,510,321, showing an excess of deposits over withdrawals of £SB,CSI. The figures compared with those for the three preceding financial years show as follow:
For the 1920-21 period the deposits exceeded the withdrawals hy £2,227,356. In 1922 the withdrawals exceeded the de-posits by £1,110,233, and in 1923 there was again an excess of withdrawals, the amount for that year being £1,086,836. There is forthe past year a small excess of deposits. In will be noiod that in 1922 and 1923, the deposits gradually contracted, the deposits for the year ending March 31, 1923, showing a decrease of £8.348,818, as compared with the deposits in 1920-21. The position now appears to be satisfactory, and no doubt as the economic conditions of the country improve the deposit? will show further expansion. At the end of March last -year the amount at credit of deposits was £44,448,444. The interest to be credited now would probably amount to £1.600.000. which would brintr the tolal to credit of depositors up to £46,000,000.
March. Deposits. Withdrawals 1921 ... ... £35.031.244 £32,803,888 1922 ••• 29,125,997 30,236,230 1923 ... 26,682,426 27,769,262 1924 ... 29,293,372 29,510,321
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Otago Daily Times, Issue 19182, 27 May 1924, Page 5
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209POST OFFICE SAVINGS BANK. Otago Daily Times, Issue 19182, 27 May 1924, Page 5
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