22 MARCH 1930, Page 46


There are one or two points connected with the latest Report of the Chartered Bank of India, Australia and China which are of considerable interest. In the first place, it is very satisfactory to note that, in spite of depression in the East, the net profits for the year amounted to £661,598 against £627,263 in the previous year. The dividend and bonus are maintained at the former rates, namely, 14 per cent. dividend with 6s. 3d. per share bonus, making 20f per cent., free of tax, for the year. The increased profits have been used in increasing the addition to Contingencies Account to £50,000 against £40,000, while the balance forward is also greater than last year, at £190,754. The deposits, which now stand at £44,917,000, show an increase of nearly £1,000,000 for the year.