BANKING PROFITS.

Auckland Star, Volume LXX, Issue 120, 24 May 1939, Page 8

BANKING PROFITS.

NATIONAL OF AUSTRALASIA.

' INCREASED EARNINGS. SHARP RISE IN EXPENSES. The accounts of the National Bank of Australasia, Limited, for the year ended March 31 show a net profit of £331,21.'), against £347,401 in the previous year, an increase of £3844.

The dividend has been maintained at 6 per cent, for the year and requires £300.000. After appropriating £50,000 toward the reduction of book value of bank premises. £156,186 remains to be carried forward, against £154,941 brought into the accounts. Gross profits increased by £31,610 to £1,388,647, but tllie increase was more than absorbed by a rise in expenses from £870,209 to £915,053. Taxation, on the other hand, fell from £139,427 to £122,349. Results for the past three years compare as follow:— 1037. 19.SS. 1039. cue Bm-ijrht forward 15!),414 157.340 154,941 Net profit 325,62« 347,401 351,245 485,040 504,041 506,186 Promises account 40.00U 50.000 50.000 Dividend, p.c. p.a. 53 t; 6 Amount 287.5.00 300,000 300,000 Carried forward 157.540 154.941 156,180 Movements in the chief balance-sheet items arc:— LIABILITIES. X. £ Capital 5.1100,000 Samp Reserve fund .... J5.000.000 Same reserve . 300,000 Same Notes and bills .. . 1,5<i3,97fi — 1 (i<1.309 Deposits, etc 44,057,573 +1,002,591 ASSETS. Cash items 5,251,307 —728,072 Treasury bills .... 2.770,000 +255,i11)0 Other securities .. 5,073,099 +770,701 Bills and remittances 3,152,272 —978,451 Due from other banks 135.024 —111.250 I , remises, eli- 1,3!»:{,2153 +41.tj.v.i Advances, etc 30,403,771) +1,067,303 The li;ink"s assets have reached a new hi#h level of £54,229,735, an increase of over £843,000 on the previous year.