NO AMALGAMATION OF BANKS

Southland Times, Issue 24888, 30 October 1942, Page 6

NO AMALGAMATION OF BANKS

Opinion In Auckland

(Special) AUCKLAND, October 29. In the course of an appeal against military service for a bank employee, heard at Stratford, Mr C. A. L. Smith, the local manager of the Bank of New Zealand, who supported the appeal, stated that banks had considered an amalgamation plan in order to release men for the armed forces, but he had not heard how it had progressed. Five banks, he said, operated at Stratford, and if four or even three could give the service to the public, a saving in staff would result. Commenting on this statement Auckland bank officials disclaimed any knowledge of talk of amalgamation. There had been discussions whether reciprocal arrangements could be made in certain country districts whereby a particular bank might operate free from competition. However, such an agreement, although limited in its scope, was beset with difficulties and it was by no means certain that the object aimed at, namely, the conservation of manpower, would be achieved. In the case of Auckland, said one bank manager, staffs had been drastically reduced at a time when all sorts of extra work had been placed upon the banks. The staffs of the city banks were engaged at top speed the whole time. It was unfortunate in one way that banking was not officially an “essential industry,” for neither the community nor the Government could dispense with its services. From the outbreak of the war the Auckland banks had voluntarily taken steps to release as many of their employees as possible for the war effort, consistent with the efficient conduct of their services to the public. At the present time female labour was largely employed, but banking was a highly technical occupation and time was needed to train new employees for responsible positions.