Finance industry profits soar

Friday, 5th December 2008

Profits for Jersey’s financial services sector rose by 12 per cent last year.

The survey of financial institutions, which includes the activities of banks, fund managers, trust and company administrators and accountancy firms, estimates total profit at £1.46 billion. After adjusting for inflation, this represents real-term growth of nine per cent.

Banks accounted for more than four fifths of the total, with their profits for 2007 increasing by 13 per cent. Profits for trust and company administrators, including legal firms and accountants, rose by 16 per cent and 17 per cent respectively.

However, profits for fund managers fell by nine per cent - the first decrease since 2002

Article posted on 2nd July, 2008 - 6.54pm

Subscriptions

The Jersey Evening Post provides daily in-depth coverage of life in the Island. Subscribe here or find out about home deliveries service here. View a demo and subscribe to our online edition here.

Article filed under: Business

Post a Comment on this Article

Your email address is never published nor shared. Required fields are marked *

Name *

Email *

Comment

Disclaimer: This comment area is moderated by the Jersey Evening Post, which aims to create a valuable forum for the expression of views by all who have an interest in Jersey. Contributors are expected to respect the opinions of others and all submissions may be edited. In particular, our policy is not to allow defamatory, gratuitously offensive, factually inaccurate or self-promotional statements to be posted. The moderators will not enter into e-mail correspondence about the editing of individual submissions.

You Say: View all recent comments.

If you wish to make a comment about this website, please use our feedback form.