Movement in Island's Deposit Base

Deposits (net of local inter-bank placings) with Isle of Man officer of Isle of Man licensed deposit takers.

Deposits decreased by £0.14 billion (-0.33%) to £42.84 billion between 30 September 2016 and 31 December 2016.

Deposits in the year to 31 December 2016 increased by £2.82 billion (7.05%) on the corresponding figure as at 31 December 2015.


Andrew Kermode
Deputy Director – Banking
Tel +44 (0)1624 689320 

Notes to Editors

1) “Deposits” include intra-group borrowing that is not capital in nature.

2) The Alternative Banking Regime came into force on 1 August 2016. The figures relate to Class 1(1) banks only. No Class 1(2) licences had been issued as at 31 December 2016.

3) As at 31 December 2016 foreign currency deposits comprised 43.10% (£18.46bn) of total deposits (30 September 2016: 40.75% (£17.51bn)) as expressed in sterling equivalent. These deposits are primarily denominated in US dollars and Euro. The figures at 31 December 2016 compared to those at 30 September 2016 are influenced by exchange rate movements on a total foreign currency basis (GBP weakened against USD by 5.38%, and strengthened against EUR by 0.86%).