“There are a broad range of positive indicators in the latest survey about the prospects for the industry, including increasing numbers reporting new business and a positive outlook on recruitment.
A very reassuring finding is that profitability is on the up for more companies in the finance sector, which fuels a more optimistic picture for the future. Over the last three months, a third of businesses in the finance sector reported an increase in profitability compared to only 10% seeing a decrease. In addition, the survey recorded that future employment opportunities will be driven primarily by the finance sector, a reflection of the industry’s vital role in the local jobs market.
While only a snapshot over a three month period, it shows a finance industry which, while resilient to uncertainties elsewhere, not least the outcome of Brexit in the UK, is continuing to build business and support the economy. A finance industry that is demonstrating optimism in its future is clearly in the Island’s best interests too.”