Deposits in Guernsey banks increased 4.7 per cent during the second quarter of 1999 according to figures released by its Financial Services Commission.
Deposits grew by £2,541m to £56,581m for the three months to June 30, 1999, up from £54,040m the previous quarter.
Director of Banking Philip Marr says: "Once again we have seen strong underlying growth in deposits with Guernsey banks. Increases were recorded across a broad spectrum of banks.
"It would appear that depositors and savers remain very committed to Guernsey as an offshore finance centre."