Annual Reports - 1935
The progress of the Bank's House Purchase Department is, for the second consecutive year, a major
topic of the Annual Report - this time referring to competition from the growth of Building Societies. The rate charged
on mortgages is reduced from 5% to 4½%, with special provision being made for mortgagors on the higher fixed rate. The Report
also records that a branch is to be opened outside the City boundary in the Royal Borough of Sutton Coldfield, without making any
reference to the many objections raised in Sutton Coldfield by residents who were afraid that the opening of a Municipal Bank
branch was the prelude to Birmingham taking the borough into the city.
(1) Published Report