BANKING IN SOUTH AFRICA.
The recent announcement by the 'Standard Bank of South Africa of a bonus of 2s. per share, or 2 per cent. actual, ill addition to the 10 per cent. dividend paid for the two previous years, has now been followed by an excellent annual report. This shows that the profit for the year was £502,590, against £433,179 for the previous year. Moreover, the balance-sheet gives signs of increased business activity, and although there is only a moderate advance in Deposits, the details of the assets show that there has been more profitable employment for the increased resources. Discounts and advances are nearly £2,500,000 higher, while Bills of Exchange have risen. At th:i same time a big rise has also to be noted in the holding of Investments, while, as a natural corollary, the holding of cash, which was abnormally high last year at over £17,000,000, is lower at about £12,000,000, though that figure is well above the total of two years ago. The annual meeting takes place on the 24th of this month.
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