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Bank Deposits Rise in Palestine

April 20, 1939
See Original Daily Bulletin From This Date

In spite of the continued unrest, the banking position in Palestine during the past year shows a distinct change for the better. The total deposits held by banks and credit co-operative societies stood at £18,000,000 at the end of 1938, compared with £16,286,000 and £17,046,000 in 1937 and 1936 respectively.

The upward trend in the deposits is largely attributed to the appreciable amounts of immigrant capital which arrived in 1938, mainly in the last two months of the year. The number of capitalist immigrants registered during 1938 totalled 1,771, as compared with 1,300 in the previous year. Of the total of £18,099,134, banking deposits amounted to L14,980,000 and deposits held with co-operative societies to £3,119,000.

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