B—ls

Conclusion The accompanying Balance-sheet again shows the Bank to be in a very strong and liquid position. The assets have been conservatively valued and full provision for possible bad debts has been made. The total assets now exceed £100,000,000, which indicates the growth of our business, fhis is an increase of over £28,000,000 in the last five years. The Bank is well equipped to meet its customers' requirements and give a complete banking service in all respects. For and on behalf of the Board of Directors, A. T. Donnelly, Chairman. Head Office, Bank of New Zealand, Wellington, 18th May, 1950.

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