C.B.A. growth maintained
NZPA Sydney General Credits Holdings, Ltd, the wholly-owned finance company of the Commercial Bank of Australia Ltd, again helped the group to a 23.7 per cent rise in net profit to 536.3 M in the year to June 30.
However, the net profit of the financier fell 8.5 per cent to 513.2 M while the net profit from banking activities rose 47.9 per cent to S2IM.
Group income rose 16.9 per cent to 5559.9 M. The bank received improved returns from its overseas interests, particularly in New Zealand, and New York. The net profit of the C.B.A.’s insurance, travel, investment, and financial ser-
vices rose 173.6 per cent to $2.2M. The directors recommend payment of a final dividend
of 9.5 c an ordinary stock unit (last year 8c) making a total for the year of 18c, compared with 16c last year.
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Bibliographic details
Press, 28 August 1979, Page 18
Word Count
144C.B.A. growth maintained Press, 28 August 1979, Page 18
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