Jersey banking shrinks while funds industry grows

Latest figures from Jersey Finance show a mixed picture of the island's finance industry.

Over the past three months bank deposits fell by £2.3bn to £137bn while funds run from Jersey rose by £5bn to £205bn.

Almost a fifth of money held in Jersey banks now comes from the Middle East and Asia.

Geoff Cook, of Jersey Finance, said the statistics show Jersey's finance industry is doing well.

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