Movement in island's deposit base

Published on: 11 January 2021

Movement in island's deposit base

30 September 2020

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

Deposits decreased by £0.79 billion (-2.21%) to £35.01 billion between 30 June 2020 and 30 September 2020.

Deposits in the year to 30 September 2020 increased by £0.38 billion (1.10%) on the corresponding figure as at 30 September 2019.

Enquiries:

Andrew Kermode

Head of Division – Banking, Funds & Investments

Tel: +44 (0)1624 689320

January 2021

Notes to Editors

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

2) As at 30 September 2020, foreign currency deposits comprised 46.04% (£16.12bn) of total deposits (30 June 2020: 48.32% (£17.30bn)) as expressed in sterling equivalent. These deposits are primarily denominated in US dollars and Euro. The figures at 30 September 2020 compared to those at 30 June 2020 are influenced by exchange rate movements on a total foreign currency basis (GBP strengthened against USD by 4.03%, but was static against EUR).