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BRITISH OVERSEAS BANK.
In these days of reduced earnings and, in some cases. lower dividends by even the older generation of financial institutions, shareholders of the British Overseas Bank, Ltd.. will be gratified to find from the report of that institution that profits in the year -to October- 31st, 1931, were appre- ciably-higher than for -the previous year, as they amounted to £166,131 as against £140,448. It is true that part of the provision for bad and doubtful debts appears to have been provided for out of contingencies account, but- as against that the bank sets aside from its profits the sum of £100,000 as an addition to contingencies account. This provision is in pursuance of the directors' usual .policy of preserving (Continued on page 794) . •
Financial Notes
(Continued from page 794.) a sound position. The dividend on the " B " shares is on this occasion 2 per cent., less- tax, as against 6 per cent, for the previous year. These 4 B " shares, however, are all held by other financial institutions. This policy merely enhances the security for the 6 per cent. dividend on the " A ' shares, which can be held by the public. They are £5 shares, fully paid, and give an attractive yield at the present market quotation. The feature of the balance-sheet of the British Overseas Bank is the high degree of liquidity of its assets. The deposits stand at just over £3,000,000, while the cash in hand and at bankers amounts to £196,844, and money at call and short notice to £1,266,850. Balances with bankers abroad account for a further £201,258, and Government securities for £469,628. The acceptance business of the bank has been more than maintained despite the unfavourable con- ditions, the total of acceptances standing at £4,277,291, against £3,927,317.
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