SATISFYING CONDITION
POST OFFICE SAVINGS BANK. STATEMENT BY MINISTER. (Special to the Times.) Wellington, October 9. The Minister of Finance (the Hon. W. Downie Stewart) stated in the House of Representatives to-day that the position of the Post Office Savings Bank, according to recent reports, shows an increasingly satisfactory position. Last year the excess of withdrawals was for some time very marked, but this tendency for the withdrawals to exceed deposits has been checked and the last month’s figures show the popularity of the Post Office Savings Bank as a people’s bank. Although the comparison is incomplete by two months, a return tabled in the House to-day indicates that the excess of withdrawals over deposits is decreasing. For the eight months which ended on December 31, 1927, the deposits totalled £18,581,447 and the withdrawals £21,302,176. For the six months which ended on June 30, 1928, the position was: Deposits, £13,643,090; withdrawals, £14,279,510.
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Bibliographic details
Southland Times, Issue 20613, 11 October 1928, Page 8
Word Count
152SATISFYING CONDITION Southland Times, Issue 20613, 11 October 1928, Page 8
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