BANK OF NEW ZEALAND

Dominion, Volume 7, Issue 2167, 4 June 1914, Page 4

BANK OF NEW ZEALAND

Tμ bakr*ecsljc.fet of the Bank of Js T fiw Zeftjaiici im the year catted March Si Inst is now avaikbk The gross profit fay the year was £t14,076 ' its against' 35686,805 in the previous fim. Tli« afefc profit, alter deducting ipfafost on gaarantoed siaek. maltift-g previsieii lor svunsial <|eiJa-l , tips t» tte rJi«evic).eiit fund, ancj for. : ti6nws to staff..totals las- W, •! against • £542,530 Is. Dd. in 191243' ai3tf.£856,182 os. lid. hi 16*1-13. fhe promts tetvo iwcM well, toaiwtairifti and with the ijiemse in capital tkafc the- bank has now • socufod thftfa . skiuld be ,i, steady growth ty . this threotioa, although the distribution to shateiwklei's may net be any greater than it is now. The jwnoWfc wought forward from the p.V«.Vj6ns year was £43,117 15s, 2d.: tWe Is thug £SSI,6G(B 8& 10d. avaikbic fej allocation., and tlio distribtt&n de--0«te1 lipofi is as follows :—'■ Wi'ltt.ftn ©flf ,'.. Wi)og Prcf, sjiares, diT.. U per «onfe. S0;«0 prrt. sharpy div, J2 jwr ienf. GQ.O'OQ OVtt. shares, Ijouhjs 3 pet ocait. 15.000 Ecssvw fund , I7s;(|flo Cafriea fof.varej ..;,.., .„.„ 51,603 ' : ■ ■ mum

The dividends are at the same, rates as in the- two peviews years &n both Classes Of shares. The oxpeflses aw hfg-her livm lass; year, and the iton-ig compare as tindor:-^- ' ; iP1344 1.912-13 " i ifi «fi SnWW .. ioa r «s mMs JHvfkkats" fees 4-.<>SQ 3,250 ] {SflndrsJ «s{>cfts?s ....... »is,23fl gft.fiS j Audit' osppjwrs ......... 2,25:? 2,2|S j Bates w4 taxes '. G1.2G5 SWI ! , 32s,Bfe 30£,2J5 I The expenses are itndet 80 j.ier ciSjit. of the gross profit, and this in bank. : ing. managtfißont- is ctwisddWid : goo-d. flio salaries again exhibit an ', increase, and this arises partly from the fact tha*: wtiik in 1913-1:3 th-src ; ■s«*ra vpnly 194 branches aiifj ago'iiekr? there arc flow 208. It. is the paHku- ■ lav function of the Bank of New Zealand to fiirflish banking facilities for. the peopte, Mid AvhQ'ev&r it is possible to open .a hra&ch or an rtfjsitcj' flie brink does so. The rsow phafu aceouftt amounts to #2fi!),69!J. The reserve fand now totals £i,ssG,ffl)Q.. Taking tho past six.Jrors. ■ thc-liitnittess of the Bank of New JJcaland is ' foctt-gfid in Mw following ■ figures;— ! ■: £ ! Grew- profit is WJ34J 8,888,439 I 'TC-newi chouses l/>tn,2lo .tntcrftst eu guai-aufeeti stole 243,1180 1.M3.2W Net profit.- 1,963,01-0 J&mizht fenwd from 1368 '.. 51098 Set profit as above ~,„ 1,965,ft1() 2,059,108 HfteffTß fund 1.M0.W iVfifte-n off hwmiSM ...< 185.000 T>iv'flcftil firef. sliares ~ 28".5fi5l tiivkfead *r> , !. shares d&i.fifiO Cartiod fotward ttl.fSß 2i19,:1(iS It -n'ill bo seen from tbc above that otit of an available .balance of £2.Oi9iJQB mtifo Uiaii half fads been sst aside _for aiig.taeftting tlsfi reserve fundi while tii-o ordinai'.y starehold-t'j-s havfi received fcss than 35 per ceiit. oitbe total. The dm-cteri of t.te baftk ars obviously detettnitied to keep tho teslitatiwi Etr#ng, au4 the additions tf the reservd furid and ihe ]«avj writiiig-off of prettises and fnraittiv-e actoutit arc to be corn l rnendtd.