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 £0.51 billion (1.47%) to £35.14 billion between 30 September 2019 and 31 December 2019.

Deposits in the year to 31 December 2019 decreased by £1.29 billion (-3.54%) on the corresponding figure as at 31 December 2018.

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 December 2019, foreign currency deposits comprised 47.10% (£16.55bn) of total deposits (30 September 2019: 44.76% (£15.50bn)) as expressed in sterling equivalent. These deposits are primarily denominated in US dollars and Euro. The figures at 31 December 2019 compared to those at 30 September 2019 are influenced by exchange rate movements on a total foreign currency basis (GBP strengthened against USD by 8.13%, and against EUR by 4.42%).