AUSTRALIAN AND NEW ZEALAND BANKS
DECLINE IN PROFITS
According to the December issue of the “Australasian Insurance and Banking Record,” the profits of the Australian and New Zealand banks for the present year have amounted to £5,908,000, representing a drop in profits of £451,107. Four of the Australian banks have a largo part of their business in New Zealand, and one New Zealand bank has a large commercial business in Australia, and after analysing their figures it is pointed out that the ratio oi net profits to capital and reserves of £83,032,706 was 7.11 per cent. This is the lowest since 1911. The amount distributed in dividends this year totalled £5,038,312, which represented 85.28 per cent, of net profits. Six of the twelve banks dealt with declared dividends at reduced rates up to the time of issuing their balance-sheets.
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https://paperspast.natlib.govt.nz/newspapers/NEM19310106.2.17
Bibliographic details
Nelson Evening Mail, Volume LXIV, 6 January 1931, Page 3
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139AUSTRALIAN AND NEW ZEALAND BANKS Nelson Evening Mail, Volume LXIV, 6 January 1931, Page 3
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