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BANK EARNINGS

COMMERCIAL. OF AUSTRALIA The Commercial Bank of Australia reports a net profit of £252 422 for the year ended June 30, compared with £247,025 the previous year. Gross profit at £1,421,535 compared with £1,330,943 a year previously while taxes paid amounted to £258,973, against £228,484. The higher ordinary dividend af 7 1-12 per cent, the rate which ruled prior to 1942, absorbs £141,667. while the usual amounts go to preference dividend and premises, leaving a carry forward of £117,825, against £116,754 brought in. " The steady fall in advances which occurred over the war years is arrested with an increase of some £2,100,000 to £23.141.186. Most of the increase of £5,400,000 in deposits to £68.142 5b4 is reflected in a rise of £4.900,000 in wartime deposits. commercial of Sydney The Commercial Banking Company of Sydney, Ltd., reports for the year ended June 30, net earnings of £384,777, against £379.822 in the previous vear and £374,038 in 1943. Dividend is unchanged at 7" 2 per cent, a rate held through the war years, the distribution requiring £3=5,426. Premises are again written down, by £25,000. and the carry forward is raised by £4351 to £126,584. An increase of £5,400,000 in deposits to £86 876,000 is exceeded by an addition oi £6 COO 000 to wartime deposits with the Commonwealth' Bank totalling £29.316.000. Advances have declined by £2,000,000 to £29,396,000.

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Bibliographic details

BANK EARNINGS, Auckland Star, Volume LXXVI, Issue 189, 11 August 1945

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228

BANK EARNINGS Auckland Star, Volume LXXVI, Issue 189, 11 August 1945

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