Movement in Island's deposit base

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

Deposits rose by £0.19 billion (0.55%) to £34.46 billion between 30 June 2018 and 30 September 2018.

Deposits in the year to 30 September 2018 fell by £2.66 billion (-7.17%) on the corresponding figure as at 30 September 2017.

Enquiries:

Andrew Kermode

Head of Division – Banking, Funds & Investments

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 30 September 2018.

3. As at 30 September 2018 foreign currency deposits comprised 44.63% (£15.38bn) of total deposits (30 June 2018: 43.52% (£14.91bn)) as expressed in sterling equivalent. These deposits are primarily denominated in US dollars and Euro. The figures at 30 September 2018 compared to those at 30 June 2018 are influenced by exchange rate movements on a total foreign currency basis (GBP weakened against USD by 1.52%, and against EUR by 0.88%)