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 decreased by £0.36 billion (-0.85%) to £41.82 billion between 30 September 2023 and 31 December 2023.

Deposits in the year to 31 December 2023 increased by £0.42 billion (+1.01%) on the corresponding figure as at 31 December 2022.

Enquiries:

Andrew Kermode

Head of Division – Prudential Supervision

Tel: +44 (0)1624 689320

February 2024

Notes to Editors

1)     “Deposits” include intra-group borrowing that is not capital in nature.

2)     As at 31 December 2023, foreign currency deposits comprised 43.54% (£18.21bn) of total deposits (30 September 2023: 45.05% (£19.00bn)) as expressed in sterling equivalent.  These deposits are primarily denominated in US dollars and Euro.  Exchange rate movements on a total foreign currency basis (GBP strengthened marginally against USD by 4.01% and was stable against EUR) did not materially affect the figures at 31 December 2023, compared to those at 30 September 2023.