Movement in island's deposit base

Published on: 22 September 2020

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

Deposits decreased by £1.18 billion (-3.19%) to £35.80 billion between 31 March 2020 and 30 June 2020

Deposits in the year to 30 June 2020 increased by £0.05 billion (0.14%) on the corresponding figure as at 30 June 2019.

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 30 June 2020, foreign currency deposits comprised 48.32% (£17.30bn) of total deposits (31 March 2020: 50.23% (£18.58bn)) as expressed in sterling equivalent. These deposits are primarily denominated in US dollars and Euro. The figures at 30 June 2020 compared to those at 31 March 2020 are influenced by exchange rate movements on a total foreign currency basis (GBP weakened against USD by 0.80%, and against EUR by 2.65%).