In a statement issued before the arinual meeting of the National Provincial Bank. Ltd., on February 10. the Chairman. Mr. D. J. Roberts, says that the Bank's net profit for the year amounted to 1:1.827.044 compared with £1.765,768 for 1953.
An interim dividend of 8+ per cent. has been paid. It is proposed to pay a final dividend of 9e. per cella and to appropriate £1,000,000 to Reserve Funds.
Pointing out that the fail in the 'internal purchasing power of the pound has only been slowed up but not arrested. Mr. Roberts warns against the policy of tolerating or even engendering " a yearly dose of inflation " leading to unemployinent or devaluation of the country's currency,