INVESTEC Bank in the Channel Islands has recorded its sixth consecutive year of profit growth.
Announcing its results for the year ended 31 March 2008 the company, which is part of the international banking group Investec plc, has seen a 49 per cent increase in profits after tax to £20.9 million.
Client deposits are up 15 per cent to around £1.7 billion, and there has been an 18 per cent increase in the loan book to £513.4 million.
Mort Mirghavameddin, managing director of Investec Bank (CI) Ltd (pictured), said: ‘These results underline the hard work by all those at Investec in continuing to attract new clients and in developing our existing relationships in these tough markets.’
