Progress of the Bank
During the 12 months ended the 31st December 1923, the Bank has continued to progress at an exceptional pace. Not only is this evidenced by the great increase in the number of transactions, but in the turnover as well. In the Savings Bank Department there has been handled practically four million pounds. The increase in the number of open accounts is also very substantial, and when it is taken into consideration that these accounts are all "live" accounts, ie there is something standing to credit in each account, and also to the fact that the number does not include depositors in the School Savings Bank, it will be realised how the depositorship has spread and is spreading.
The introduction of the Home Safe method of saving has proved a success, and it is clear that further provision in the way of additional safes will have to be made.
In the House Purchase Department there has been increased activity, and it is gratifying to find this development. Apart from the additional work involved in dealing with increased borrowers month by month in the shape of repayments, there has been considerably more work thrown on to the Department in the way of enquiries, inspection of deeds, etc.
The collection of Water Accounts continues to grow appreciatively, and the increase during the last twelve months indicates still further development as the public get more acquainted with the facilities offered. The collection of Rates will, doubtless, follow on the same lines as soon as a less cumbersome method is introduced.
The School Savings Bank work has continued during the last year on much the same lines as formerly, but the results obtained through this channel are not as pleasing as they might be.
Administratively, the year has been a very heavy one, due in no small measure to the setting up of more permanent branches, the building and adaption of branches, all involving much time and thought and giving some anxiety. The results, however, go to prove the wisdom of giving the greatest possible facilities to the public, and the extra work and anxiety is thus compensated for.
Taken as a whole the machinery works smoothly, and with amended Rules and Regulations, as proposed, many difficulties now encountered in an administrative sense should disappear.
Comparative statistics are attached hereto will be of interest to the Committee.