Movement in Island's Deposit Base

31 December 2024

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 (+2.23%) to £43.58 billion between 30 September 2024 and 31 December 2024.

Deposits in the year to 31 December 2024 increased by £1.76 billion (+4.21%) compared to the corresponding figure on 31 December 2023.

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 of 31 December 2024, foreign currency deposits comprised 46.51% (£20.27bn) of total deposits (30 September: 45.04% (£19.20bn)) 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 against USD by 6.72% and was stable against EUR) were therefore part of the reason for the increase in deposit value in the quarter.