Guernsey Banks Deposits Continue To Grow

Deposits held by Guernsey banks grew a further £10.3bn (8.7%) during the first three months of the year.

That increase means that the total value of deposits reached a new record high of £129.5bn at the end of March 2008 an increase of £24.2 (23%) year on year.

Peter Niven, Chief Executive of GuernseyFinance, said: "These results are very positive. They reflect not just the fact that Guernsey remains an attractive location for placing deposits but that there continues to be strong growth across the financial services industry and most notably in the funds sector where the figures released just last week showed year on year increases of some forty-five per cent."