Please enter your email address to receive a password reminder.
Log into Tax-News+
The value of deposits held by banks in Guernsey grew by 3.5 percent during the final quarter of 2014, according to figures from the Guernsey Financial Services Commission (GFSC).
The GBP2.8bn (USD4.30bn) increase is the second consecutive quarterly rise, lifting the total value of Guernsey bank deposits to GBP83.7bn at the end of December 2014.
The value of deposits will soon be boosted when South African banking group FirstRand establishes its Guernsey branch later this year. FirstRand was granted a license late last year, bringing the number of licensed banks in Guernsey to 31.
Dominic Wheatley, Chief Executive of Guernsey Finance – the promotional agency for the island's financial services industry, said: "I believe the statistics and the FirstRand announcement show that the island continues to be a popular destination for banks and banking products as well as a stable home for deposits."
IMPORTANT NOTICE: Wolters Kluwer TAA Limited has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
All rights reserved. © 2017 Wolters Kluwer