HEALTHY TRADING

Sun (Auckland), Volume 1, Issue 7, 30 March 1927, Page 2

HEALTHY TRADING

COMMONWEALTH BANK LAST YEAR'S OPERATIONS For the six months end/ng December 31, 1926, the net income of the Australian Commonwealth Bank was £ 792.575. as against £976,335 for the same period of the previous year. Advances for the half-year gained £1.718,215 and the bank's holdings of securities have expanded over the same period by £6.819,874. For the year bills receivable and remittances are up by £2,122,517, while on the other side of the acocunts bills payable have expanded by £972.167. The wider business being done by the rural credits branch means some expansion in the figures relating to its operations, but the growth is not extensive. In the Savings Bank branch, deposits now amount to £46,063,129, an increase since 1925 of £2,187,436. In the banking department the profit shown is £262,671. against £251,408 a year ago, the earnings_ of the notes department being £528.592. against £724,889, and those of the rural credits department £1,312. against £37. Profits have been allocated as follows: To reserve. £131,335; national debt sinking fund. £131,335; rural credits department on account of capital, £132,148; and to the Commonwealth Treasury on account of profits from the notes issue branch, £396,444. Notes issued on December 31 represented the sum of £49,890,226. against £53,890,226 a year earlier. Against the circulation is held gold coin and bullion. £21,982,066: debentures, etc., £26,463.734: and other assets of £1.484,426. Leading figures of the bank for the half-year ended December 31 compare with those for the two preceding corresponding halfyears as follow: LEADING FIGURES

Dec. 31, Dec. 31, Dec. 31, 1924. 1925. 1926. Liabilities- £ £ ♦Capital 4,000,000 4.000,000 4,000,000 Deposits 28,097,612 31,463,836 28,075,330 Bills payable, etc. 3,343,419 4,743,937 5,716,104 Savings Bank deposits 40,948,614 43,875,693 46,063.129 Reserve fund C o n t i n596,137 822,313 - 1,058,592 gents . Rural 345,352 458,199 454.357 c r edits branch — 126,228 415.463 78,231,134 85,490,206 85,782,975 Note dept. 56,890,226 53,890,226 49,930,226 135,121,360 139,380,432 135,713,201 Assets— Coin, bul- £ £ £ lion, etc., cash balances . 7,774,168 10,719,694 3,662,871 Australian notes . Money at 5,350,031 5,548,050 3,941,126 short, call London Govt secu10,630,000 16,185,000 5,710,000 rities . Fixed de39,021,464 39,467,603 53,041,916 posits, other banks Bills, etc., 954,000 954,000 954,000 in transit 3,167,902 2,231,161 4,353,977 Advances Bank 10,054,956 10,098,071 12,958,836 premises 933,258 S28.430 705,892 Contingent against letters of credit Note issue 345,352 458,199 454,357 dept. . 56,S90,226 53,890,226 49,930,226 ♦Transferred from the reserve and redemption.