C.M.B.S. assets 9% higher
The assets of the Christchurch . Mutual Building Society had increased 9 per cent to $6,595,603 in the year to September 30, the chairman (Mr C. H. Perkins) says in a preliminary report. “The net surplus after payment of interest and | dividends on deposits and ■ redeemable shares has risen iby 25 per cent to $136,003. New mortgages advanced for ;home ownership during the (year totalled $1,785,372 compared with the record in ‘1973 of $1,828,784.” Mr Perkins commented that in spite of the difficult financial conditions prevailing, the society’s reserves and liquidity remained in a very strong position and said that the recent amendment to the Building Societies’ Act . which increased from $20,000 to $50,000 the :amount of a total deposit,' i which may be invested as a Trustee Investment with an: authorised permanent build-; ling society in New Zealand, reflected the confidence held 'by the Government in this type of society. As announced, the annual; .dividend has been increased! (from to 9j per cent. ‘
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Press, Volume CXIV, Issue 33665, 15 October 1974, Page 25
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167C.M.B.S. assets 9% higher Press, Volume CXIV, Issue 33665, 15 October 1974, Page 25
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