Scotsman Archive

Royal Bank of Scotland, 16 March, 1950

THE annual general court of proprietors of the Royal Bank of Scotland was held at Edinburgh yesterday. His Grace the Duke of Buccleuch and Queensberry presided. He said: "The increase of more than 5,000,000 in our advances to customers is well spread over the main fields of lending. We have found ourselves obliged to refuse a number applications for advances which were unexceptionable from the point of view of safety and security but when the conditions affecting the national interests are satisfied, we are in a position, and are prepared, to lend to all credit-worthy borrowers. We now turn to the profit and loss account, where we show an increase of 2,461 in our profit, which, including a further increase in charges of all kinds, may be regarded as satisfactory. Following our usual practice, full provision has been made for contingencies and nil bad and doubtful debts. Two interim dividends were paid at midsummer and Christmas, and the directors do not recommend any further dividends for the year.

archive.scotsman.com