Annual Reports - 1972
The 1971/72 Published Report recorded the Bank's decision to join the West Midlands and South Wales Computer Consortium of Trustee Savings Banks (TSBs). Six TSBs were already members of this consortium, and the addition of the BMB increased the number of branches to be linked to a purpose built computer centre at Kidderminster from 107 to 178; the number of accounts to be serviced by an OLRT (On-Line Real-Time) system increased from just over one million to approximately 1,530,000. Details of the financial arrangements were given in 'Notes forming part of the accounts' - the first time that explanatory notes had been added to the Statement of Accounts. Otherwise, the Published Report follows a similar format to previous years, although the Statement of Accounts for 1971/72 contained more detail than previously. The total Liability to Depositors was almost 105-million, a new Bank record high. Mortgage advances amounted to 6.7-million, also a new high. For the first time, the annual profit exceeded 1-million - mainly due to a profit made on the sale and maturity of investments amounting to 836,112. In July 1971 a new branch was opened at Blackheath, an area where the Bank had first explored the possibility of establishing a branch in 1939. The Committee's report recorded that evidence had been submitted to the Page Committee to Review National Savings including its view that "as part of a comprehensive banking service power should be given for the granting of personal loans". Mention was made of the TSB College, established a few years earlier at Shirley, Solihull. The Council Report added more information regarding the Bank's move towards the computerisation of its accounting system: the loan to the Computer Consortium bears interest at 8%; and an order had been placed for 500,000 passbooks that are to be processed through computer terminals. Reference is also made to the Bank's decision to commence charging for its Standing Order system regarding local Utility Accounts - the free service had existed since 1942.
(1) Published Report
Annual Reports
Published  Report (cont.)