Figures for the third quarter of 2005 show bank deposits rose by �6.6bn to just over �179bn.

Phil Austin the Chief Executive of Jersey Finance, which compiled the figures, said it was encouraging to see the growth.

Mr Austin added the figures did not seem to have been affected by the new European Savings Tax Directive.

The directive, which came into effect on 1 July, means anyone living in the EU with an offshore account has to either declare interest from their savings or pay a withholding tax.