Deposits held with Guernsey banks have reached record levels.
The Guernsey Financial Services Commission said the total value of deposits held with Guernsey Banks was £119bn at the end of December 2007.
The figures are in line with a steady pattern of growth which began in the spring of 2004.
Low tax and death duties make Guernsey a popular offshore finance centre with financial services making up 32% of total income.
Peter Niven, chief executive of Guernsey Finance, the promotional agency for the island's finance industry, said the figures showed the island was defying the so-called credit crunch.
He said: "The fact that the island is able to post exceptional funds figures at the same time highlights just how our financial services industry is firing on all cylinders."
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