Movement in Island's Deposit Base

Published on: 24 May 2023

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 (-0.87%) to £41.04 billion between 31 December 2022 and 31 March 2023.

Deposits in the year to 31 March 2023 increased by £2.85 billion (7.46%) on the corresponding figure as at 31 March 2022.

Enquiries:

Andrew Kermode

Head of Division – Prudential Supervision

Tel: +44 (0)1624 689320

Notes to Editors

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

2) As at 31 March 2023, foreign currency deposits comprised 45.15% (£18.53bn) of total deposits (31 December 2022: 45.07% (£18.66bn)) as expressed in sterling equivalent. These deposits are primarily denominated in US dollars and Euro. The figures at 31 March 2023, compared to those at 31 December 2022, were not materially influenced by exchange rate movements on a total foreign currency basis (GBP strengthened against USD by 2.48%, and against EUR by 0.88%).