in thousands of EUR

2018

2017

On demand deposits with banks

166,663

165,343

Deposits with banks

70,392

51,032

Balance sheet value as at 31 December

237,055

216,375

An amount of EUR 19.7 million of the deposits is encumbered (2017: EUR 14.5 million). These are on demand deposits at Cecabank in the amount of EUR 1 million (2017: EUR 1 million), Caja de Ingenieros in the amount of EUR 0.5 Million (2017: nil), ING Bank EUR 13 million (2017: EUR 13 million), Banco Cooperativo EUR 4.6 (2017: nil) and Mastercard EUR 0.6 million (2017: EUR 0.5 million). All other deposits can be freely disposed of.

Banks classified by residual maturity:

in thousands of EUR

2018

2017

On demand

166,663

165,343

1 to 3 months

55,392

50,032

3 months to 1 year

14,000

1 to 5 years

1,000

1,000

Longer than 5 years

Balance sheet value as at 31 December

237,055

216,375

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

in thousands of EUR

2018

2017

Banco Cooperativo

5,708

1,087

Caja de Ingenieros

4,791

832

Cecabank

5,787

23,821

Coventry

557

19,029

DZ Bank

42,140

8,305

ING Bank

85,243

77,263

KBC Bank

382

29,216

Royal Bank of Scotland

35,445

31,261

Yorkshire Bank

49,533

16,890

Other

7,469

8,671

Balance sheet value as at 31 December

237,055

216,375