JERSEY?S finance industry reported ?steady performance? during 2012 and there are ?positive signs? for the year ahead, according to the chief executive of Jersey Finance, Geoff Cook.
And the reason for optimism, said Mr Cook, was that the level of bank deposits rose in the final quarter of the year while the size of the funds administration business increased year on year.
In the final quarter of 2012, bank deposits increased by 2.3% with sterling deposits representing 36.9% and other currency deposits making up the remainder
And the value of funds held here grew by just over ?3 billion during the12 month period to stand at ?192.8 billion at the end of the year.
In addition, the total number of funds also grew slightly by three to 1,570 while the value of funds under investment management was also up slightly.
Mr Cook said that Jersey had a robust long-term strategy in place to reinforce its strong position as a first choice centre for deposits.
Source: http://www.thisisjersey.com/business/2013/03/09/positive-signs-for-2013-say-jersey-finance/
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