BANK OF NEW ZEALAND.

Oamaru Mail, Volume XLIV, Issue 14706, 5 June 1920, Page 6

BANK OF NEW ZEALAND.

(Per Press Association.) WELLINGTON, June 4. T)lie balance slieet and profit and loss statement of' the Bank of New Zealand for the year ended March 31 last shows that the profits, after providing for the expenses of management and all bad and doubtful debts and other contingencies, and after making provision for the annual donation to the Provident Fund, and a special grant thereto, also for a bonus to the staff, amount to £490,245. The directors recommend that £150,000 be transferred to reserve fund, making the reserve fund £2,500,000, and leaving a balance of £1.46,520 to be carried forward. Notes in circulation total £5,765,337, deposits £37,661,610, coin and cash balance at bankers £8,371, 535.