in thousands of EUR

2019

2018

On demand deposits with banks

205,048

166,663

Deposits with banks

22,513

70,392

Balance sheet value as at 31 December

227,561

237,055

An amount of EUR 21.7 million of the deposits is encumbered (2018: EUR 19.7 million). These are on demand deposits at Cecabank in the amount of EUR 1 million (2018: EUR 1 million), Caja de Ingenieros in the amount of EUR nil (2018: EUR 0.5 million), ING Bank EUR 13 million (2018: EUR 13 million), Banco Cooperativo EUR 7 million (2018: EUR 4.6 million) and Mastercard EUR 0.7 million (2018: EUR 0.6 million). A deposit of EUR 1.0 million (2018: EUR 1.0 million) is subordinated. All other deposits can be freely disposed of.

Banks classified by residual maturity:

in thousands of EUR

2019

2018

On demand

205,048

166,663

1 to 3 months

7,513

55,392

3 months to 1 year

15,000

14,000

1 to 5 years

1,000

Longer than 5 years

Balance sheet value as at 31 December

227,561

237,055

The balance sheet value of the banks as at 31 December can be broken down as follows:

in thousands of EUR

2019

2018

Banco Cooperativo

8,131

5,708

Caja de Ingenieros

604

4,791

Cecabank

4,111

5,787

DZ Bank

51,873

42,140

Euroclear Bank

2,595

1,149

ING Bank

103,281

85,243

National Westminster Bank (Natwest)

29,906

Rabobank

20,790

1,181

Royal Bank of Scotland

830

35,445

Yorkshire Bank

118

49,533

Other

5,322

6,078

Balance sheet value as at 31 December

227,561

237,055