02 July 2014
The Statistics Unit has today (2 July) released the 2013 Survey of Financial Institutions report. The Survey of Financial Institutions covers banks, fund managers, investment trusts, accountancy and legal firms.
- total net profit was £1,180 million, a similar level to that recorded in each of the two previous years (2011 and 2012)
- the banking sub-sector accounted for almost four-fifths of total net profit
- the net profit for the fund management sub-sector increased by more than a third (38%) in 2013; smaller increases were recorded by the trust and company administration and accountancy sub-sectors of 3% and 4%, respectively
- the banking sub-sector recorded a small decrease in net profit in 2013, down by 2% compared with 2012, whilst the legal sub-sector saw a fall in net profit of 9%
- net profit per full-time equivalent (FTE) employee, across all sub-sectors, was £101,000
- total revenue was £2.34 billion, an increase of 4% compared with 2012
- mean employment costs were £62,000 per FTE employee, an increase of more than 3% compared with 2012
- the mean bonus payment was £5,900 per FTE employee, a similar level to that in 2012
- total expenditure on goods and services was £710 million; more than two-fifths of all such expenditure occurred on-Island
- the number of local staff recruited directly from school and university was 310 FTEs; the number of local new recruits was some 100 higher than in each of the previous four years, from 2009 to 2012, and was at a similar level to that in 2008
Download 2013 Survey of Financial Institutions report (size 166kb)
gov.je