THE BANK OF NEW ZEALAND. The Bank of New Zealand lias not escaped* the effects of the depression. While the directors are able to recommend the payment of dividends on the same scale as in recent years, the profits show a reduction as compared with those of - the two preceding periods. The following table, in which we have grouped the figures for the years prior to 1921,' exhibits the annual profits for thirty years:—
The decline in the profits is, it will be seen, of substantial dimensions, but the experience of the Bank of New Zealand in this respect seems to be only that of all the other commercial banks that are operating in Australia and this Dominion. ,
1901-4 (average) >. . £210,890 1905-8 (average) .. . . 300,016 1909-12 (average) .. . , 318,497 1913-16 (average) .. . . 349,077 1917-20 (average) .. . . 427,291 1921 .. . 827,255 1022 .. . 682,043 1023 . . . 553,639 1924 .. , 753,831 1025 .. . 819,286 1026 .. . 912,160 1027 .. . 847,671 1928 .. . 841,873 1929 .. , 912,954 1930 .. . 948,534 1931 .. , 845,813
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Otago Daily Times, Issue 21357, 10 June 1931, Page 6
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155Untitled Otago Daily Times, Issue 21357, 10 June 1931, Page 6
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