6 JULY 1929, Page 39

BANKING IN NEW ZEALAND.

The latest financial statement of the National Bank of New Zealand for the year ending March 31st last is a very satis- factory one. Gross profits show a rise from £684,341 to £693,715. There was also an increase in expenses, but in spite of that the net profits were also up slightly at £290,582. The directors maintain the dividend of 12 per cent., with a 2 per cent. bonus, and £10,000 is allocated to premises, the allocation to pension and gratuity funds being raised from £10,000 to £11,000, with a balance carried forward of £155,154. In New Zealand there has evidently been an increase in demands for accommodation, Advances having risen from £9,212,388 to £10,361,671. Deposits show a moderate decline for the year.