E.S. AND A. BANK

Wanganui Chronicle, Volume 80, Issue 280, 25 November 1937, Page 11

E.S. AND A. BANK

INCREASE IN NET PROFIT. The English, Scottish and Australian Bank, Ltd., reports a net profit of £276,127 for the year ended June 30, compared with £257,460 the previous year, and £243,579 for 1934-35. An interim dividend of 3J per cent, has been paid, and a final dividend at the same rate is recommended, making 7 per cent, for 'the year, compared with 5 per cent, the previous year. The year’s dividend requires £171,937, and the following other appropriations are made: £15,000 to reserve fund (making it £3,280,000), £lO,OOO to officers’ provident fund, £50,000 to contingencies reserve, and £30,000 to bank premises. Against £306 787 brought forward, £305,977 is carried forward. Gross profit increased by £78,767 and expenses and taxation by £60,100. Results and appropriations for ’ the last three years compare as follows: YEAR ENDED JUNE 30.

1935. 1936. 1937 r< & t & Gross profits .. 1.025,858 1,102,713 1,181480 Management and taxation .... 782,279 345,253 905,353 Net profit .... 243.579 257.460 276,127 lo reserve .... 15,000 15.000 15,000 r o provident 5,000 10,000 10,000 Div., p.c 5 5 7 Div., amount .. 150,000 150,000 171,937 To contingency account .... 50,000 50,000 50,000 To bank premises — 25,000 30,000 Forward 299,326 306,787 305,977