18 OCTOBER 1935, Page 55

BANKING IN SOUTH AMERICA.

The latest accounts of the Anglo-South American Bank, covering the year ended June 30th last, shows that the Institution continues to suffer from the adverse tendency of the exchanges in South and Central America. For notwith- standing a further reduction in expenses the net profits for tit year amounted to £37,000, as compared with nearly £61,000 In the previous year. This notwithstanding the fact that expenses declined by about £40,000. From the banking standpoint the Balance-Sheet position is satisfactory, showing total of over £6,000,000, which is more than 25 per cent. of the deposit liability, while including Government securities the ratio is about 33 per cent.