PERMANENT INVEST.
Profit R ises
Net profit of the Permanent Investment and Loan Association of Canterbury rose £206 to £9859 in the year to December 3i last Divid-'>’d for the year Is again 8J per cent., Including a 1 per cent bonus, and this requ, es £B5OO The sum of £lOOO has been added to the reserve fund taking It to £30.000, and carry forward is £359 higher at £6066
Loans on mortgages are £5785 down at £285.215 Deposits are £17,500 against £179 last year This takes in £lO.OOO Post Office Savings Bank—£l79 last year—and £7500 local body a new item. Credi bank balance ts £1456 against nil last year. An explanatory note again points out that in lieu of holding liquid assets, directors have arranged for the National Insurance Company of New Zealand, Ltd., to provide a guarantee of up to £■ .000 for the repayment of deposits or. due dates. Paid capital is steady at £lOO,OOO. while shareholders’ funds are £1359 higher at £l4l 06C.
Deposits are £11,595 higher at £162,760 Interest earnings are up £442 at £16.441 while other income is £l7 down at £254.
Interest payments are £146 down at £3994.
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Bibliographic details
Press, Volume CI, Issue 29744, 10 February 1962, Page 18
Word Count
194PERMANENT INVEST. Press, Volume CI, Issue 29744, 10 February 1962, Page 18
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