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 fell by £1 billion (-2.83%) to £34.27 billion between 31 March and 30 June 2018.
Deposits in the year to 30 June 2018 fell by £2.17 billion (-5.95%) on the corresponding figure as at 30 June 2017.
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. During the period, the value of reported deposits in one bank fell by £0.78bn to £nil as part of a group restructure. These deposits were mostly intra-group borrowing.
- 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 June 2018.
- As at 30 June 2018 foreign currency deposits comprised 43.52% (£14.91bn) of total deposits (31 March 2018: 42.16% (£14.87bn)) as expressed in sterling equivalent. These deposits are primarily denominated in US dollars and Euro. The figures at 30 June 2018 compared to those at 31 March 2018 are influenced by exchange rate movements on a total foreign currency basis (GBP weakened against USD by 5.71%, and against EUR by 0.88%).