Movement in Island's Deposit Base

Published on: 15 February 2023

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

Deposits increased by £0.22 billion (0.53%) to £41.40 billion between 30 September 2022 and 31 December 2022.

Deposits in the year to 31 December 2022 increased by £4.17 billion (11.20%) on the corresponding figure as at 31 December 2021.

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. As at 31 December 2022, foreign currency deposits comprised 45.07% (£18.66bn) of total deposits (30 September 2022: 46.10% (£18.98bn)) as expressed in sterling equivalent. These deposits are primarily denominated in US dollars and Euro. The figures at 31 December 2022, compared to those at 30 September 2022, were partly influenced by exchange rate movements on a total foreign currency basis (GBP strengthened against USD by 9.01%, whilst it weakened very slightly against EUR (0.88%)).