Directors' Report for 1924
The 32nd annual report of the directors of the Mercantile Bank Jof India, Ld., covering the year, ending December 31, 192 follows:—
The net profits for the year, after providing for bad and doubt: ful debts, and including £157,811. 1s, 11d, brought forward from last account, amount to £401,221. 11s, 5d. From this sum has to be deducted £84,000 being the interim dividend of 8 per cent., less income and shares paid in September last.
'The directors have added £50,000; to the reserve fund (raising it to 41,300,000) £15,000 to the officers' pension fund, and written £10,000 toft freehold banking premises. They. now recommend a final dividend on the "A," "B" and "C" Shares of 8 per cent, less income tax (making the year), leaving. 158,221. 118, 5d. to
Text read from the printed page and cleaned; old type leaves the occasional error.