Net profits more than doubled for Butterfield Bank Guernsey to reach £3.8m in 2005, compared to £1.2m in 2004.
He said Butterfield would continue to focus on the development of long-term relationships with both institutional and private clients following the record profits.
He added: “Client deposits rose by 17% to a total of £793m which was more than matched by the growth in lending which saw a 28% rise to £125m. Other highlights were an active year in client-led foreign exchange activity and a further rise in investment management fees.”
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