The Dormant Assets Fund has continued to grow, with its total balance exceeding £13.1 million according to its latest annual report.
The report covers the year to 30 June 2025.
Throughout the year, the combined balance of the Fund’s Reserve and Distribution Accounts increased by over £4 million during the period.
The opening balance of the Fund Reserve Account on 1 July 2024 was £2,757,725.11
The closing balance of the Fund Reserve Account on the 30 June 2025 was £3,471,230.57
Several major banks transferred dormant assets last December.
The largest single transfer was from Barclays Bank PLC, which moved £2,563,810.29 into the fund. Royal Bank of Scotland International transferred £1,900,681.34, while Standard Bank made two transfers totalling £684,798.09.
The report also notes that £437,196 in interest income was earned from bank deposits.
During the year, £5,249,879.68 was moved from the Reserve Account to the Distribution Account for potential allocation.
From there, £1,875,953.68 was paid to the Manx Lottery Trust, the appointed Distribution Organisation.