Figures from RBS International in Guernsey show an increase in mortgage volumes and lending to the corporate sector, despite the testing economic conditions.
Rob Girard, Island Director of RBS International in Guernsey, said that the data was an indication that there were more positive signs in the marketplace than suggested in recent headlines. The Bank has seen a 4% increase in mortgage lending year on year and statistics also show that lending to the business and corporate sector increased by more than 11% in 2012 for the Guernsey operation.
Rob Girard commented:
‘Clearly it is evident that we have increased our lending book once again over the past 12 months which helps to illustrate our ongoing support to Guernsey households and businesses which in turn maintains our longstanding support for the Guernsey community.’
Despite some negative announcements from the banking sector and a perception that banks are not open to lending, Mr Girard highlighted RBS International’s commitment to the Island:
‘Finance is an industry undergoing significant change; however, it’s not all failure, closure and cutback headlines. At RBS International we are strongly supportive of Guernsey’s local economy and our community. We have very robust data for 2012 which demonstrates that we are continuing to grow as a business and such growth has been achieved by supporting our loyal customers and new businesses.’
As well as conventional mortgage lending, the Bank also supports the Guernsey Housing Association’s (GHA) partial ownership initiative. The scheme enables GHA tenants to achieve partial ownership of their property and RBS International was one of the original lenders in the scheme, thereby assisting even more Guernsey residents to reach that first step on the housing ladder.
Mr Girard added:
‘Guernsey remains remarkably resilient. There are many businesses doing well, coping with the challenging economic environment and adapting where necessary. This week the business community will celebrate the Guernsey Awards for Achievement. There is no doubt that this event will showcase those businesses driving forward the growth of Guernsey’s economy’.
Category: Finance & Business