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Annual Reports - 1928
 
The Bank's Annual Reports continue to record the growth of Deposits and Number of Depositors. This growth is partly due to the continuing expansion of the branch network with six more permanent offices opened to bring the total (including part-time branches) to 46. An expansion of the Bank's House Purchase loan business is also reported - the proportion of advances to deposits having doubled from 9.49% in 1924 to 18.80% in 1928. Scant reference is made in the published report to problems experienced with the house purchase advances, but the Report to the Council goes into more detail, particularly with reference to loans made on municipal houses. Of the 6,326 loans granted over the five years 1924 to 1928, 42% are for the purchase of municipal houses. Reference is made to problems with mortgagors on the Pype Hayes Estate - these problems, and the wider issue of all loans on municipal houses, were the subject of a report by the General Manager to the Bank's House Purchase Sub-Committee on December 5th 1927. The Annual Reports refer to the compliments received by the Bank in the published Bradbury Committee report; make adverse comments regarding the National Debt Commissioners; and highlight comments made by the Aberdeen TSB. The year under report also saw the publication of a book by the General Manager: Britain's First Municipal Savings Bank.
 
(1) Published Report
 
Published  Report (cont.)
 
Front and Back pages of Report
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