COMMERCIAL BANKING COMPANY.
DIVIDEND OF 5£ PER GENT. (UNITED PRESS ASSOCIATION—BY ELKCTHIO TELEGEArH—corvnianT.) (Received July 29th, S p.nuX SYDNEY, July 20. Tho Commercial Banking Company of Syducy, Limited, earned a net profit of £253,866 during, tlio year ended June ,80th, compared with £441,816 in the previous year, and £637,619 in 1929-30. An interim dividend at tho rate of fi per cent, per annum was paid last January, and tho final disbursement, approved to-day, is on a basis ol' 5 per cent, per annum, making a return for the year ot 5J per cent. Tho chairman (Mr G. J. Cohen) remarked that the proiit for 1931-32 represented only 2.8 per cent, on the. combined capital and reserves, uhieh was an eil'ective answer to those who were continually charging ?!ie ianUs with making unconscionably large profits at the expense of the trading and producing public.
The net profit of the bank in 1931 was £441,816, and the dividend for the year 8J per cent. For sonic years preceding tho dividend was 10 per cent. The capital of the bank is £4,739,012, and the reserves at last balance £4,424,226.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19320730.2.71.2
Bibliographic details
Press, Volume LXVIII, Issue 20612, 30 July 1932, Page 12
Word Count
186COMMERCIAL BANKING COMPANY. Press, Volume LXVIII, Issue 20612, 30 July 1932, Page 12
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.