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 increased by £0.45 billion (+1.08%) to £42.27 billion between 31 December 2023 and 31 March 2024.


Deposits in the year to 31 March 2024 increased by £1.23 billion (+3.00%) compared to the corresponding figure on 31 March 2023.




Andrew Kermode

Head of Division – Prudential Supervision

Tel: +44 (0)1624 689320


May 2024


Notes to Editors


  1. “Deposits” include intra-group borrowing that is not capital in nature.
  2. As of 31 March 2024, foreign currency deposits comprised 44.17% (£18.67bn) of total deposits (31 December 2023: 43.54% (£18.21bn)) 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 weakened marginally against USD by 0.79% and strengthened against EUR by 1.74%) did not materially affect the figures on 31 March 2024, compared to those on 31 December 2023.