Guernsey: Deposits With Guernsey Banks Increase Once More

Last Updated: 20 February 1996
The total of deposits held by Guernsey banks at the end of December rose by £2,418 million from the previous quarter, an increase of 5.4%. Total deposits now stand at £46,855 million bringing the overall increase in 1995 to £4,664 (+11.1%) compared to £4,709 in 1994 (+12.6%).

Most of the banks saw some increase in deposits with a couple in particular increasing quite sharply. Interbank lending, responsible for most of the fall in the previous quarter, rose by £365 million and movements in the exchange rate also accounted for part of the rise as over the quarter sterling weakened considerably against the dollar. Deposits increased by a proportion of seven in foreign currencies to three in sterling but the split of the total deposits remains around 75% in currency to 25% in sterling.

One new banking licence was issued during the quarter when Skipton Building Society opened a subsidiary but would not have had any effect on the overall figures yet. On the other side one licence was surrendered when BATIF International Limited closed down its operation. This too had little effect on the figures as the operation was not very large and depositors had been paid back over the course of the past year.

A table showing deposits since 1980 is attached.

Deposits with licensed deposit-takers

End      No. of licensed   Deposits   Quarterly   Yearly
Period   institutions      £Mn        Variation   Variation
                                          %           %

1980          43            1,800                   68.2
1981          42            2,691                   49.5
1982          41            3,307                   22.9
1983          41            4,243                   28.3
1984          45            5,838                   37.6
1985          47            7,209                   16.7
1986          52            9,508                   31.9
1987          54            8,838                   -7.0
1988          56           10,168                   15.0
1989          58           12,992                   27.8
1990 Mar      66           13,387        3.0
     June     68           13,469        0.6
     Sept     70           14,522        7.8
     Dec      72           15,476        6.6        19.1
1991 Mar      72           16,203        4.7
     Jun      72           16,829        3.9
     Sept     71           16,156       -4.0
     Dec      72           16,250        0.6         5.0
1992 Mar      73           17,849        9.8
     June     72           17,673       -1.0
     Sept     73           21,226       20.1
     Dec      76           27,442       29.3        68.9
1993 Mar      73           30,299       10.4
     June     74           32,605        7.6
     Sept     75           37,595       15.3
     Dec      75           37,482       -0.3        36.6
1994 Mar      74           37,773        0.8
     Jun      73           40,320        6.7
     Sept     73           41,439        2.8
     Dec      73           42,191        1.8        12.6
1995 Mar      72           43,018        2.0
     June     73           45,207        5.1
     Sept     73           44,437       -1.7
     Dec      73           46,855*       5.4        11.1

Note : Deposit figures prior to 1985 do not include deposits with clearing banks' branches. The increase of 16.7 per cent for 1985 is the increase in deposits with non-clearing banks.

* of which £3,348 mn constitutes local interbank deposits.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

For further information contact Peter Crook, Director General, Tel:(01481) 712801,Fax:(01481) 712010 (International dialling: 44-1481.
Visit the Guernsey Financial Services Commission Web Site at Click Contact Link

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