Annual Reports - 1968
 
The Bank's first and fundamental step away from its roots as a savings and housing bank occurred in July 1967 with the introduction of a Cheque Account facility; by the year-end there were 2,038 accounts. The Investment Department, opened in the previous year, had progressed to 13,881 accounts with balances of 12,178,253 (average 877). With a "generally high Bank Rate" the interest rate payable on Investment Department accounts was raised to 6%. Total balances increased to a new record high (94,478,112) but this was mainly due to Capitalised Interest (2,746,246) as withdrawals exceeded deposits by 603,651. The No 1 Department (with 65% of balances) continued to operate profitability with a surplus of 259,739, but the No 2 Department (22% of balances) incurred a loss of 11,251. Expenditure on Alterations to Premises amounted to 20,533 involving Aston Newtown, Rubery, Nechells, Kingstanding and other branches. After building up a Reserve of 250,000 for Repairs and Rebuilding of Branches in 1962, 150,000 is switched to General Reserve to bring that balance up to 2,300,000.
 
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