Bank deposits drop almost £2bn

THE value of deposits in Guernsey banks fell by just under £2bn during the second quarter of this year.

For the three-month period to the end of June, deposits went down from £118.7bn to £116.8bn.

The fall represented a 6.2% decrease since the same time a year previously when deposits held in Guernsey stood at £124.6bn.

It was also a return to declining values after the first quarter of this year saw the first increase in the quarterly bank figures for more than a year.

GFSC director of banking Philip Marr (pictured) said that it was not possible to discern any obvious trends from the second-quarter figures.

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