Movement in Island's Deposit Base

Published on: 12 May 2020

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

Deposits increased by £1.84 billion (5.24%) to £36.98 billion between 31 December 2019 and 31 March 2020.

Deposits in the year to 31 March 2020 increased by £1.66 billion (4.70%) on the corresponding figure as at 31 March 2019.

Enquiries:

Andrew Kermode

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.
As at 31 March 2020, foreign currency deposits comprised 50.23% (£18.58bn) of total deposits (31 December 2019: 47.10% (£16.55bn)) as expressed in sterling equivalent. These deposits are primarily denominated in US dollars and Euro. The figures at 31 March 2020 compared to those at 31 December 2019 are influenced by exchange rate movements on a total foreign currency basis (GBP weakened against USD by 6.02%, and against EUR by 4.24%).