Movement in Island's deposit base

Published on: 25 November 2022

MOVEMENT IN ISLAND’S DEPOSIT BASE

30 September 2022

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

Deposits increased by £0.95 billion (2.36%) to £41.18 billion between 30 June 2022 and 30 September 2022.

Deposits in the year to 30 September 2022 increased by £4.08 billion (11.00%) on the corresponding figure as at 30 September 2021.

Enquiries:

Andrew Kermode

Head of Division – Banking, Funds & Investments

Tel: +44 (0)1624 689320

November 2022

Notes to Editors

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

2) As at 30 September 2022, foreign currency deposits comprised 46.10% (£18.98bn) of total deposits (30 June 2022: 45.51% (£18.31bn)) as expressed in sterling equivalent. These deposits are primarily denominated in US dollars and Euro. The figures at 30 September 2022, compared to those at 30 June 2022, were partly influenced by exchange rate movements on a total foreign currency basis (GBP weakened against EUR by 1.72% and weakened against USD by 8.26%).