New banks boost for the economy
Thursday 26th November 2009, 3:01PM GMT.
Treasury Minister Philip Ozouf declined to name the banks
JERSEY’S economy is poised for a welcome boost early next year with two new banks ready to open for business.
And it should also be easier for Islanders to secure funds needed for private and commercial lending in 2010.
Treasury Minister Philip Ozouf said that the policy of ‘proactively marketing’ the Island’s high regulatory standards would certainly have helped to attract the new banks to Jersey.
And Economic Development Minister Alan Maclean said that encouraging signs were beginning to emerge which would suggest that confidence was growing in the local economy.
However, at this stage neither he nor Senator Ozouf was prepared to name the banking institutions involved.
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Will they be obliged to employ locally ???
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“Marvellous” now will somebody buy my house so that i can get out of here.
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Would that be a bank from Dubai?
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Mogit, of course they are going to employ locally.
Everbody they employ will live locally.
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So as far as I can see it there maybe two banks, that might next year, possibly be ‘poised’ to open branches in Jersey. So set in concrete is this quandary the alleged banks cannot be named.
Well the boy Ozouf really has pulled a ‘proactive’ blinder here, fantastic news, we are all saved from the worst depression in recent times. Or not.
Don’t count your chickens before your eggs . . . !
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#5 mister shifter
cynical moi? like your good self i will beleive this one when I see it and if and I repeat if two new banks do come and set up here i will praise whoever is responsible to the rafters
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Some of us are beginning to develop a certain world weary cynicism about States announcements.
Take the Liberty Wharf shopping centre, periodically it is announced that it will open shortly, the opening date passes and a new one is announced and so it goes on.
The Esplanade Quarter is another good example, an optimistic announcement is made from time to time but it is now almost a year behind schedule.
With the banks staring at a very nasty situation in Dubai will they even consider ponying up £500M for this project?
Maybe Mr Ozouf could have waited until the banks had signed the leases and were prepared to be named, then we could all have raised a glass to the good news.
As it is the story is as substantial as sea mist!
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#5
“…Don’t count your chickens before your eggs…”
Why not? It would seem like a better idea to count your chickens first if the opportunity is available; they’re more likely to run off while you’re counting the motionless eggs, making the job more difficult.
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Sounds good just as only have top 500 banks in Jersey. However as we all know just because you have a top 500 bank doesn’t make them immune to economic downturns does it?
Will it be an Indian bank to match the one from China we already have? Or maybe Outer Mongloia?
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This is great news but we do not know at this stage how many jobs it will create. Without knowing the names of the banks and their business plan, we can only guess. Existing banks employ from less than 20 to 1000.
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