SPREAD BANKING INTERESTS.

Evening Post, Volume CX, Issue 52, 29 August 1925, Page 9

SPREAD BANKING INTERESTS.

Apart from the large shareholding acquired by Lloyd's Bank, Ltd., In the National Bank of New Zealand, the "Big- Five" banks in England have refrained from investing in Australian and New Zealand banking institutions. Howeyer, one of the great British banks Is extending its operations In other parts of'tho world in which' Great Britain is Interested. Ail official statement issued in London by the National Bank of South Africa, Ltd., gives. details of this proposed large banking combine, by which the Coloiiiul Bank,: Ltd.,"operatiug largely In West Africa, ; the Anglo-figyutfan Bank, Ltd., -and the National Bank of South Africa, Ltd., will bo amalgamated under the aegis of Barclay's. Bunk, Ltd., which will liavo a controlling interest. The combine will be effected' by an exchange of shares, and tho entire interests of the National Bank of South Africa and the Anglo-Egyptian Bank will bo taken over by an institution to be known as Barclay's' Dominion and. Overseas Bauk, Ltd. Shareholders of the National Bank of South Africa will receive for each £7 share two cumulative preference S per cent. £1 shares and five ordinary £1 shares. The statement declares:—"Tliub will be brought about a consolidation of banking interests extending over a' very considerable portion of tho African continent. The initiate policy will b<o calculated to promote tho development and furthering of interests In Dominion and coloninl trade. The amalgamation may be regarded as an indication of the remarkable recovery of the National Bank'of South Africa after tho set-back a few .years ago, when the £10 shares were written down to £7, and ac a most important departure, alike advantageous to shareholders .and, promising the greatest benefit to the industry nnd commerce of the whole country." Tho Anglo-Egyptian Bank, it may ho explained, is already one of the banks affiliated' with Barclay's.