DUNEDIN SAVINGS BANK

Otago Daily Times, Issue 21940, 29 April 1933, Page 10

DUNEDIN SAVINGS BANK

ANNUAL BALANCE SHEET A meeting of the trustees-of the Dunedin 'Savings Bank was held .yesterday afternoon, Mr J. B. Shacklock (president) occupying the.chair.. After routine business had been dealt with the balance sheet for the year ended March 31, 1933, was presented, showing the following figures: — Number of depositors .. .. 30,708 Total amount standing to credit on March 31, 1933 £2,154,044 Total amount standing to credit on March 31, 1932 £2,057,487 Actual amount deposited during the year ~ •• •• £870,5/a Actual amount withdrawn during the year .. • • £861,740 Amount added in interest to depositors’ accounts .. .. £78,718

The bank’s investments produced during the year £100,161, showing a slight decrease on the previous year, caused by a general reduction in interest and a 10 per cent, duty on all debentureinterest. Interest payable to depositors for the first three months of the year was at the rate of 4J per cent, and for the remaining nine months 3| per cent.

During the year the following grants were made: —Relief of distress Otago Hospital Board, £500; Dunedin Central Mission, £100; Otago Allied Building Industries, £25; Otago Hospital BoardChildren’s Convalescent Notwithstanding the reduction in interest and the somewhat unsettled state of the commercial world the bank has continued to hold its own, and has not only reserves against possible losses, but is able to show a balance in the profit and loss account of £125,305 at the end of the year. The Dunedin public has every reason to be proud.of “its” Bank, and the results certainly justify the confidence v placed in it. ■