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Annual Report - 1976
 
The final Annual Report of the Birmingham Municipal Bank was issued in October 1976, just a month before the first set of accounts of its successor (the Birmingham Municipal Trustee Savings Bank - 'BMTSB') was due to be drawn up - the year end of TSBs being November 20th. The final BMB trading period produced its largest ever surplus - 1,686,752, an increase of 497,897 compared with 1974/75. These final profits resulted in a Total Surplus from almost 57 years of existence of 6,547,952, equal to 4.77% of Depositors' Balances, which had increased during the year to 137,255,630. The BMB transferred 469,997 active accounts to BMTSB - the final report stating the number of the Bank's accounts on this more accurate basis, rather than including Inactive Accounts as in prior years. The rate of interest charged on mortgages was increased to 12%. March 19th 1976 saw the completion of the computerisation of these accounts when Solihull branch became the last part of the Bank to be taken onto the On-Line Real-Time system. The new Bank retained a relationship with the City of Birmingham, including appointment of Trustees; processing collections and payments for Council services; and utilising libraries and rent offices for a new Bank service - the sale of 50-pence savings stamps.
 
Published Report
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Published  Report (cont.)