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.
(1) Published Report