STEADY INCREASE
EXCESS OF DEPOSITS.
SAVINGS BANK BUSINESS.
(Per United Press Association.)
Wellington, July 13.
A table showing the business of the Post Office Savings Bank in New Zealand by ten-year periods from 1868 to 1918 and yearly periods thereafter to March 31, 1933, was gazetted to-night.
The number of branches increased from 48 at the establishment in 1867 to 794 in 1919 and 873 in 1933. The excess of deposits over withdrawals has steadily advanced from £1919 in 1867 to £3,796,070 in 1919. There was a slight drop in the excess of deposits over withdrawals in 1920 and until 1924 (when the excess deposits was £88,051) there was excess of withdrawals. From 1924 until 1933 withdrawals consistently exceeded deposits. For the year ended March 31, 1933, the excess was £2,702,751 compared with £6,024,095 last year. The number of accounts remaining open at March 31, 1933, totalled 797,097 compared with 877,090 the previous year.
The total deposits in the year just ended amounted to £16,933,176 and withdrawals £19,635,928. The corresponding figures for the previous year were £19,463,985 and £25,488,081.
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Bibliographic details
Southland Times, Issue 22067, 14 July 1933, Page 8
Word Count
179STEADY INCREASE Southland Times, Issue 22067, 14 July 1933, Page 8
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