B.N.S.W. (N.Z.) profit falls
The group net profit of the Bank of New South Wales Savings Bank (N.Z.), Ltd, fell 12.6 per cent to $145,839 in the year to September 30. A substantial swing from non-bearing to interest-bear-ing deposits, a continued increase in deposit rates, resulting in a narrowing of interest rate margins, and increased costs were major contributors to the downturn, the bank says. The profit was after providing $17,210 less for tax at $1'19,324.
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Press, 7 April 1978, Page 14
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76B.N.S.W. (N.Z.) profit falls Press, 7 April 1978, Page 14
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