03 July 2013
The Statistics Unit has released the 2012 Survey of Financial Institutions report. The Survey of Financial Institutions covers banks, fund managers, investment trusts, accountancy and legal firms.
The latest report shows that for Jersey’s financial sector in 2012:
- total gross operating surplus was £720 million, representing a fall of 1% compared with 2011
- total gross operating surplus has been substantially flat for the last three years
- total gross operating surplus per full-time equivalent (FTE) employee was marginally lower than in 2011 but was similar to that recorded in 2010
- total net profit was £1,090 million, a similar level to that recorded in 2011; the Banking sub-sector accounted for more than three-quarters of total net profit
- net profit per FTE employee was £93,000
- total revenue was almost £2.2 billion, a similar level as recorded in 2010 and 2011
- average employment costs fell by 3% to an average of £60,000 per FTE employee
- average bonus payments were £5,800 per FTE, a decrease of £700 per FTE compared with 2011
- total expenditure on goods and services was £750 million, 1% lower than in 2011
- the total number of staff engaged in the Finance sector was essentially the same as in 2010 and 2011 but remained some 700 FTEs lower than in 2008
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