Annual Reports - 1941
 
Presumably because of the need for wartime economies, the Annual Report and Statement of Accounts for 1940/41 was reduced by eight pages compared with the previous year. With the Government urging the population to support the war effort by saving, the Bank's deposits increased by 4.3 million, the largest annual increase to date. The increase achieved was assisted by various initiatives including War Weapons Week. The Council Report goes into more detail regarding a 'trade-off' with the Government regarding excess deposits being placed with the National Debt Commissioners and the Bank's depositors benefiting from the terms of the Determination of Needs Act, 1941. To assist with placing Bank funds with the Government, the Bank's Regulations were amended to allow investment in Government Securities with a maturity date of up to 30 years - previously 20 years. For the first time in the Bank's history, the Published Report contains an appreciation of the staff's efforts.
 
(1) Published Report
 
Management
 
 
Home
 
Annual Reports
 
 
Council  Report
 
BACK TO THE TOP