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 £3.1 billion (-7.24%) to £39.74 billion between 31 December 2016 and 31 March 2017.
Deposits in the year to 31 March 2017 fell by £0.12 billion (-0.30%) on the corresponding figure as at 31 March 2016.
Head of Division – Banking, Funds & Investments
Tel: +44 (0)1624 689320
Notes to Editors
- “Deposits” include intra-group borrowing that is not capital in nature.
- 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 March 2017.
- As at 31 March 2017 foreign currency deposits comprised 43.79% (£17.40bn) of total deposits (31 December 2016: 43.10% (£18.47bn)) as expressed in sterling equivalent. These deposits are primarily denominated in US dollars and Euro. The figures at 31 March 2017 compared to those at 31 December 2016 are influenced by exchange rate movements on a total foreign currency basis (GBP strengthened against USD by 1.63%, and did not move materially against EUR).