The Central Bank of India Limited Speech of the Chairman, Sir Homi Mody THE FOLLOWING is the summary of the speech delivered by the Chairman, Sir Homi Mody, at the Fifty- sixth Annual General Meeting of the shareholders held on Friday, April 28, 1967; Addressing the Annual General Meeting of the Shareholders of the Central Bank of India Ltd on Friday, April 28, 1967, Sir Homi Mody, Chairman of the Bank, observed that while in the past fifteen years, there had been an impressive growth in the total volume of banking business, both in the matter of deposits and advances, there were, of late, definite signs of a decline in the 'profitability' of banks. While in absolute terms, bank profits for 1966 had been maintained at almost the same level as in 1965, profitability measured by such criteria as the ratio of net profits to deposits and the ratio of expenses to earnings had shown a decline. This, observed Sir Homi, was a serious por- tent and necessary corrective steps need to be taken before there was a further erosion.
