Bank ready on margins
NZPA-AAP Melbourne National Australia Bank, Ltd, was preparing itself for inevitable low interest margins by streamlining systems and processes and reducing overheads, the chairman, Sir Robert Law-Smith, said at the bank’s annual general meeting. The bank's record 1984-85 profit of S3OIM represented a 30.1 per cent increase and eclipsed the performance of its major competitors. The broader economic outlook suggested a difficult operating environment in the near-term, Sir Robert said. High real rates of interest struck at the heart of economic growth.
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Press, 27 January 1986, Page 12
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86Bank ready on margins Press, 27 January 1986, Page 12
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