Accounts seen by the Sunday Tribune of some financial institutions reveal a sharp rise in deposit bases at their Isle of Man subsidiaries.

Anglo Irish Bank's Isle of Man subsidiary had £1.86bn of deposits on its books at the end of September 2005, the latest set of accounts available. That was up from over £1.39bn the previous year. The subsidiary reported pre-tax profit up to £4.17m in 2005 from £2.7m in 2004.

Irish Nationwide had £1.25bn held in the Isle of Man at the end of 2005, up from £1.02bn in 2004. It reported a rise in pre-tax to £9.4m from £6.3m. Last year new government legislation paved the way for Irish Nationwide to demutualise, a move that would provide windfalls of up to Euro15,000 for some of its 120,000 eligible members. The bank could be worth in the region of Euro1.5bn, according to previous estimates from Davy Stockbrokers.

Irish Permanent had £165.8m on deposit at its Isle of Man outfit at the end of 2005, up from £154.3m in 2004. It posted pre-tax profit of £990,000 in 2005, almost unchanged from £885,000 in the previous 12 months.