MONEY is pouring into banks on the tax haven Channel Island of Jersey, according to figures published yesterday. Deposits in the island's 77 banks grew by 35 per cent to £88.3 billion sterling during 1995, said the Financial Services Department of the governing States of Jersey.

The main area of growth was in foreign currency deposits, which jumped by almost 50 per cent to £61.6 billion. The rise was attributed to exchange rate movements, as well as a strong upsurge in business from overseas customers.

Sterling deposits grew by 19 per cent to £26.7 billion, with the majority of the increase again coming from non UK investors.