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Increase in deposits

Isle of Man banks have a grand total of £52.36 billion sitting in their vaults, the Treasury has revealed.

Deposits with Manx offices of Isle of Man licenceholders rose by £1.82 billion in the first quarter of this year, an increase of 3.6%.

That’s up £6.41 billion, or 13.95%, on last year’s figures.

Total deposits with Manx licenceholders, including their overseas branches, went up 3.52 per cent to £65.59 billion in the last three months.

Year on year, that’s an £8.17 billion rise, which works out at 14.23%.

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