6% rise in deposits held with Guernsey banks

Deposits held at Guernsey banks increased 6% to £85.6bn from December 2005 to March 2006, according to figures released by the Guernsey Financial Services Commission. Peter Niven, chief executive of GuernseyFinance, said: "These banking results reflect not only the business coming into the banks from outside the island but also the substantial business coming from the other vibrant sectors within Guernsey, such as funds."