“Wales” earns $123.8M
The net trading profit of; the Bank of New South Wales rose 15.9 per cent toy 5123.8 M in the year ended September 30, the directors; (announced yesterday. ii j The main factors contributing to the improvement; were higher volume of funds ■ < •assisted by proceeds of the? leash share issue of October,,; 11979, and increased revenue I (from a review of charges toy lachive better recovery of’i costs in the second half of 11 1979, thev sav. I In the other major seg-q
;ments of business, the profit growth of A.G.C.. Ltd. was ■subdued by losses associated with the motor trade, and •savings bank profits were I affected by the low growth iin savings bank deposits principally because of uncompetitive interest rate ceilings imposed by the The directors have • declared a final ordinary dividend of 10c a share, making an unchanged 18c (18 per cent) for the year, j payable on January 30.
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Press, 22 November 1980, Page 18
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156“Wales” earns $123.8M Press, 22 November 1980, Page 18
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