BANKING PROFITS.
DROP OF £451,107 IN 1930,
LOWEST RATIO SINCE 1911
SYDNEY, December 20,
' According to the December issue of the Australasian Insurance and Banking Record, the profits of Australian and New Zealand banks in the present year amounted to £5,908,000, representing a drop of £451,107 in comparison with 1929. Four of the Australian banks have a large part of their business in New Zealand, and one New Zealand bank has a lifrge commercial business in Australia. The ratio of net profits to capital and reserves of £83,032,766 was 7.11 per cent. This was the lowest since 1911. The amounts distributed in dividends this year totalled £5,038,312, which represented 85.28 per cent of the net profits. Six of the twelve banks declared dividends at reduced rates up to the time of issuing their balance-sheets.'
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Bibliographic details
Auckland Star, Volume LXI, Issue 309, 31 December 1930, Page 4
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134BANKING PROFITS. Auckland Star, Volume LXI, Issue 309, 31 December 1930, Page 4
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