FALL IN BANKING PROFITS.
AUSTRALIA AND DOMINION.
LOWEST RATIO SINCE 1911.
(Rccoived December 31, 12.25 a.m.) SYDNEY. Deo. 80. According to the December issue of the Australasian Insurance and Banking Record the profits of Australian and New Zealand banks in the present year amounted to £5,908,000, representing a drop of £451,107 in comparison with 1929. Four of the Australian banks have a large part of their business in New Zealand and one New Zealand bank has a large commercial business in Australia. The ratio of net profits to capital and reserves of £83,032,766 was 7.11 per cont. This was tho lowest sinco 1911. The amounts distributed in dividends this year totalled £5,038.312 which represented 85.28 per cent, of tho not profits. Six of tho twelve banks declared dividends at reduced rates up to the time of issuing their balance-sheets.
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New Zealand Herald, Volume LXVII, Issue 20760, 31 December 1930, Page 7
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139FALL IN BANKING PROFITS. New Zealand Herald, Volume LXVII, Issue 20760, 31 December 1930, Page 7
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