26 MARCH 1932, Page 32

In view not only of world depression but of the

conditions , prevailing in India, the latest annual report of the National Bank of India is a remarkably favourable one, showing that net profits were only £10,000 below the figure of the previous year, and this after providing for all bad and doubtful debts. Moreover, this very good result has been achieved notwith- standing some reduction of the figures in the balance-sheet, the Deposits being about $.3,000,000 below the figure of the previous year. To meet depreciation on investment stocks a sum of £800,000 has been taken from the Reserve Fund, which still stands, however, at the high figure of £2,200,000. Moreover, it is pointed out that the bank's investments are all redeemable at par and are mostly short-dated. Not only so, but there has, of course, been a considerable recovery in prices since the turn of the year.