RECORD PROFIT
B.N.S.W. net up 38 per cent
The unaudited group net profit of the Bank of New South Wales, Ltd, rose by about $6.6m or 38.2 per cent to a record $23.9m in the year to September 30, the directors say in a preliminary report.
The profit includes the bank’s share of the trading profit of Australian Guarantee Corporation, Ltd, for the three months from July when a majority shareholding was acquired. A year’s dividend is also included. Land and income taxes were $7.7m higher at $26.0m. The year was one of considerable growth, with deposits and assets rising strongly. With consolidation of A.G.C. figures, total assets, excluding contingent items, now exceed five billion dollars, the directors say. A final dividend of 7 per cent, pavable on January 26. 1973, will be declared, lifting the annual dividend rate to 12 per cent (24c a share) compared with 10 per cent last year. Books close on January 5.
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Bibliographic details
Press, Volume CXII, Issue 33061, 31 October 1972, Page 21
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158RECORD PROFIT Press, Volume CXII, Issue 33061, 31 October 1972, Page 21
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