PERMANENT INVESTMENT
Profit Rises
Net profit of the Permanent Investment and Loan Association of Canterbury rose £957 to £9653 for the year ended December 31 last. Dividend is 8J per cent, for the year, including a 1 per cent, bonus. This requires £B5OO. An unchanged £5OO is placed to reserves and carryforward is £653 higher at £5706.
Loans on mortgage rose £37,970 to £291,001. Deposits are down £7468 at £l7B. Credit bank balance is nil against £2786 last year. An explanatory note points out that in lieu of holding liquid assets the directors have arranged for the National Insurance Company of New Zealand, Ltd., to provide a guarantee of up to £40.000 for the repayment of deposits on due dates.
Paid capital is steady at £lOO,OOO, reserve fund is £5OO higher at £29.000 and shareholders’ funds £1162 higher at £139,706.
Deposits are £20,922 higher at £151.164.
Interest earnings are £1790 higher at £16.009 and other income rose £55 to £269.
Interest payments rose £6Bl to £4140.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19610213.2.65
Bibliographic details
Press, Volume C, Issue 29437, 13 February 1961, Page 8
Word Count
166PERMANENT INVESTMENT Press, Volume C, Issue 29437, 13 February 1961, Page 8
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Acknowledgements
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