From the archive: National Bank of Scotland - 15 December, 1950

THE 125th annual general meeting of the proprietors of The National Bank of Scotland Limited was held in the Bank’s Head Office.

The balance sheet as at 1st November 1950 is in itself sufficient evidence of the continued progress of the Bank. Our deposits, at £96,300,000, are higher by £1,400,000, while on the other side, our discounts and advances, amounting to £23,400,000, show an increase of practically the same amount. Our profits, at £300,800, are fully £7,000 higher, but again, pursuing our traditional policy, the amount set aside for distribution as dividend is little more than one-third of our earnings, absorbing only £107,800 net and we have been able to appropriate towards building up the inner strength of the bank – £60,000 to Investment Reserve, £40,000 to Heritable Property, £75,000 to Trustees for the Officers’ Pension Scheme and to make a donation of £10,000 to the Staff Widows’ Fund.