Guernsey bank deposits up

The total value of Guernsey bank deposits stood at £112.9 bn. at the end of March. However, contraction over the last year means that deposits have fallen by 4.9%, or  £5.8bn., overall compared to the same time last year. Peter Niven, Chief Executive of Guernsey Finance, said: “We are hopeful that this is an indication of light at the end of the tunnel, but it would be wrong to overstate this growth, after three consecutive quarters of contraction. The banking environment remains difficult with the general expectation that base rates will continue to be low for some time to come.” Th...