Finance profits up to £1.5bn
Wednesday 1st July 2009, 3:00PM BST.
The head of the States Statistics Unit, Duncan Gibaut
Jersey’s finance industry increased profits by four per cent during 2008, to £1.5 billion.
Banks accounted for over three quarters of the total, although the banking profits actually fell last year by three per cent.
Profits for trust and legal firms, accountant and funds business all increased during the year.
The annual survey of financial institutions, released today by the States Statistics Unit, also reveal that up to a quarter of Jersey finance firms expect to employ fewer staff by the end of this year.
Around a third believe there will be no change in staffing requirements and 23% expect the number of jobs to rise.
Last year the sector employed 320 more staff than in 2007, mainly adding to the trust and accountancy sectors.
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