Offshore boost to banking profits

James Blower, Managing Director of Clydesdale Bank International says this Guernsey-based operation contributed significantly to the profit uplift this year. Blower confirms that a lot of its current business comes through, “Wealth managers, offshore bonds, other tax structures like QROPS, Wraps, Sipps, and simple trusts.” A key reason for the current success lies in its strategy of setting out a stall that promises consistently good rates. Blower confirms that the Bank is offering “particularly attractive rates right now, so we’re currently top of the market on five year, joint top on t...