B—ls

1946 NEW ZEALAND

BANK OF NEW ZEALAND ANNUAL REPORT OF THE BOARD OF DIRECTORS FOR THE YEAR ENDED 31st MARCH, 1946, AND BALANCE-SHEET AT THE 31st MARCH, 1946

Presented to both Homes of the General Assembly pursuant to Section 15 of the Bank of New Zealand Act, 1945, and Section 24 of the Bank of New Zealand and Banking Amendment Act, 1898

To the Right Hon. the Minister of Finance. The Board of Directors presents hereunder the report on the operations of the Bank of New Zealand during the financial year ended 31st March, 1946. Profit and Loss Account and Dividend The profits, after providing for expenses of management, and for all bad and doubtful debts, and other contingencies, and after making £ s. d. provision for the annual donation to the Provident Fund, are .. 394,079 3 8 To which has to be added : Balance brought forward from last year 359,722 6 8 753,801 10 4 From which has been paid— £ s. d. Dividend on preference A shares .. .. 43,750 0 0 Interim dividend on C long-term mortgage shares 6,152 610 Interim dividend on D long-term mortgage shares 15, 380 17 2 Interim dividend on preference B shares .. 18,750 0 0 Interim dividend on ordinary shares .. .. 112,500 0 0 196,533 4 0 Leaving available for distribution .. .. .. £557,268 6 4 I—B1 —B 15