Annual Reports - 1950
As in previous years, the Committee's report to the City Council includes a table (Table A) that lists the amount of deposits and withdrawals for each year of the Bank's existence. In each of the years ending March 31st 1919 to 1949, the amount of deposits exceeded withdrawals, but in the current year deposits amounted to 23,000,831 and withdrawals totalled 23,487,787. The Committee contrasts the lack of growth in the current year with the increase in deposits during the Second World War, and state that the substantial savings accumulated then are now being withdrawn to purchase goods that were not available during the War years. Another factor discouraging savings is the Government's continuing maximum limit of 2,000 per depositor; although the average balance is only 133 per open account. The first branch opening since the end of the War occurred at Rubery on January 31st 1950.
(1) Published Report
Annual Reports
Published  Report (cont.)