BANK OF N.S.W.

Sun (Auckland), Volume III, Issue 834, 30 November 1929, Page 10

BANK OF N.S.W.

NET PROFITS £994,52 S NO BONUS THIS YEA* After making provision for had doubtful debts, etc . and ruttin* 0 ** £. 350,08? for taxation and disclosed net profits of the New South Wales for th© : September 30. 1929, are siow^ £ 994,825. To this is added the ! divided balance at September 3y of £ 165.653 13s lid. making 10s 6d. Interim dividends at th« * of 10 per cent, absorbed £ 562. The directors recommend payxnea* a quarter's dividend to Septemb*-'< at the rate of 10 per cent., and the transfer to the reacrv. of £250.000. leaving £ 163.478 to be carried forward. A Press Association telegram s. Sydney states that the directors' commendations were confirmed by ?' meeting. Kelso King and * Charles Binme were re-elected to -V directorate. Following is a comparison of bank’s results and apxYropriatior.s • the last three years: 192 i ,9 i ß - >? Brought forward - 171,916 170,616 icjt Net profit 1.226,247 1,184,943 § . £1,398.173 £1.355.559 guSri To reserve 340,760 250,000 **sc Dividend, 10 p.c. . . 701,211 749,405 ?c« * Bonus, 2i p.c. . . . 185,586 187,(00 _ Car. forwd £170,616 £168,6(1 £; i' A bonus of 2i per cent, was p&ii „ 1921 and has been added to the d v (lend annually from 1925 to 1928. fn net profits in 1925 were £*79,185 in 1926 rose to £1.099.559. Follow.the amalgamation with the- Werner Australian Bank the 1927 profits *s tablished a new record og £l.:;s>, ;