South Canty bank profit
The net profit of Trusteebank South Canterbury rose 74.8 per cent to $290,563 in the year ended March 31, the annual accounts show.
It was after providing 75.7 per cent more in taxation at $238,978 — of which $109,323 was deferred.
Depreciation rose $36,629 to $140,974, and depositors received 12.4 per cent more in interest at $4.7 million. Costs were well held, rising 12.5 per cent to $2.2 million. Total revenue for the year rose 15.5 per cent to $7.7 million. The Trusteebank made a provision for grants of $40,000 ($35,000 last year) and transferred $250,563 to the reserve fund. So far $35,890 has been made in grants in South Canterbury.
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Press, 13 June 1984, Page 29
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114South Canty bank profit Press, 13 June 1984, Page 29
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