B.N.S.W. costs increase
(N.Z Press Association) WELLINGTON, May 10. The group revenue of the Bank of New South Wales, for the half-year to March 31 was considerably in excess of that for the same period last year, mainly because of the higher level of lending in both trading and savings bank, the president (Sir John Cadwallader) said in his interim report. The increased revenue was however, more than offset by rising costs, particularly the substantial increase arising from industry and national salary and wage cases, and the higher interest cost of deposits. Present indications were that although some improvement in earnings could be expected in the current halfyear the group net profit for 1870-71 might be slightly lower than tor last year, Sir John Cadwallader said. An interim dividend of 10c . a share is payable June 15, ex dividend May 22. ■ Rights market
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Press, Volume CXI, Issue 32604, 12 May 1971, Page 20
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165B.N.S.W. costs increase Press, Volume CXI, Issue 32604, 12 May 1971, Page 20
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