AUSTRALIAN BANKING
REDUCTION OF PROEltffi LOWEST RATIO SINCE 1911SYDNEY, Dec. 30. According to the Deceincer issue of the Australasian; Insurance and Banking Record; the profits :of the .Australian and New Zealand banks for the present year amounted to £5,906,0iJ0, representing a drop of £451,10/. Four of the .Australian banks have a large part of their ousiness in New Zealand and one New Zealand bank lias a large commercial business in Australia. After analysing the figiures.'it is pointed out that , the ratio of net profits to capital and reserves of £33,032,766, was 7.11 per cent. This is the lowest sihee 1911. The amount distributed in dividends this year totalled £5,038,312, which represented 86.28 per cent, of net profits. Six of thd 12 banks declared dividends at reduced rates, up to the time of issuing their balance sneefs.
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Poverty Bay Herald, Volume LV, Issue 17454, 31 December 1930, Page 7
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136AUSTRALIAN BANKING Poverty Bay Herald, Volume LV, Issue 17454, 31 December 1930, Page 7
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