Annual Reports - 1953
 
The decrease in Deposit balances experienced in the two previous financial years is halted in the year ended March 31st 1953. The Total Balances are now 85,437,740, marginally higher than three years previously. However, the increase in deposits is largely due to 2,250,949 in capitalised interest as withdrawals exceeded deposits by 1,582,336. The Committee acknowledges that a factor in the Bank being unable to match the deposit increases seen in the first thirty years of its history is the presence of "competitive avenues for savings", which is a reference to the growth in popularity of Building Societies. For the first time, the balance outstanding on Mortgage Advances exceeds 3-million.
 
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