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.