Guernsey banking sector receives a boost

Figures show the value of deposits grew 15% - largely due to currency movements and volume growth - to reach £157bn at the end of 2008. Recent weeks have seen significant moves in Guernsey's banking sector. Clydesdale Bank, owned by the National Australia Bank Group launched Clydesdale Bank International. Butterfield Guernsey revealed an 18% growth in profits in 2008 compared to the previous year, while Yorkshire Guernsey has reported increased annual profits of 14% for 2008. It is also anticipated Skipton Guernsey and Scarborough Channel Islands will integrate later in 2009 following...