Island likely to ride financial storms

Saturday 22nd March 2008, 12:00AM GMT.

JERSEY’S finance industry says that it is in better shape than most to weather the current global market storms.

Nevertheless, there is likely to be some impact on firms seeking to protect clients from volatile share prices and falling asset values.

Borrowing funds will also be more difficult for Islanders as lenders become more cautious.

‘Credit will tighten, definitely,’ said Geoff Cook, chief executive of Jersey Finance. ‘Lenders will be asking for a bigger deposit, credit card limits will go back a bit, and probably the credit surety on personal loans will be a bit more demanding.’

Read the full story in the Jersey Evening Post. Click here for subscription details. Individual editions are also available online.

View more: Financial Forecast news.