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Anglo-palestine Bank Declares 13 Percent Dittoed Following Record Year of Profits

The board of directors of the Anglo-Palestine Bank, leading banking institution in Israel, last night voted a 13 percent dividend on common shares following a report that the institution’s profits rose last year to over 255,000 pounds ($765,000).

The report to the board was made by S.S. Hoofien, managing director, who compared last year’s profits with those of the previous year — 198,000 pounds. Mr. Hoofien also described the problems of the institution in relation to its position as the only bank in the country to issue currency for the government. The board also heard a report on the recent financial talks with the British Treasury, in which David Israel, assistant general manager of the bank, participated.