BANK OF N.Z.
Decrease In Net Profit (New Zealand Press Association) WELLINGTON, July 21. The Bank of New Zealand last year made a net profit, after taxation, of £505,234—£29.631 less than the previous year—according to the annual report of the bank's board of directors. The report, covering the year ended March 31, 1960, was tabled in the House of Representatives today by the Minister of Finance (Mr Nordmeyer). The ordinary dividend was maintained at 8 per cent, and gross profits rose by £35.444 to £5,203,059. The bank’s paid capital was £6,328,125, and reserves, including undistributed profits, amounted to £4,533,265. During the year total fixed and free deposits rose by £15,354,512 to £138.710341, compared with a decrease of £6,475,898 the previous year. Advances were £2,168,956 higher at £69,945.358, and Investments were almost steady at £13.027,923.
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Press, Volume XCIX, Issue 29263, 22 July 1960, Page 14
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134BANK OF N.Z. Press, Volume XCIX, Issue 29263, 22 July 1960, Page 14
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