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Key appointments signal strong future for Conister Bank
Conister Bank is delighted to announce two appointments which is great news for the future of the bank.
Douglas Grant takes up the position of Managing Director, with James Smeed promoted to the bank’s Finance Director. Douglas moved to the Isle of Man in 1996 with his wife Wendy and has two children; he joined Conister in 2010 as Finance Director, having previously worked for them as a financial consultant. He has over 35 years’ experience in finance, working with UK and Manx companies in both the public and private sectors. In tandem with his new post, he will remain the Group Finance Director of Manx Financial Group PLC, the parent company of Conister Bank.
Conister put their hearts into charity relay
A special charity fundraising day on Thursday 6th April saw Conister Bank raising funds for the British Heart Foundation. Sixty-nine members of staff took part in the Conister Prom Relay, walking return laps of Douglas Promenade in a series of waves through the morning and early afternoon.
Members of Conister Bank and sister company Edgewater Associates and MFX completed the 3-mile walk in teams of eight. The first team set off at 8.30am, with all remaining teams following at 30-minute intervals until 12.30pm. The bank pledged to donate £3 for each mile walked, and staff arranged cake sale, quiz and a raffle. After the event, the teams gathered at the Claremont Hotel to enjoy food and drink in Coast Restaurant, and hear the grand total of funds raised.
Launch of the New Conister Bridging Loan
Conister Bank launched a new product which aimed at boosting the local property market. The event, which took place at the Claremont Hotel in Douglas, saw the launch of the Bridging Loan – a flexible, interest-only product designed to accelerate the house purchase process and open up opportunities for buyers.
Invited along to the evening were key representatives from local banks, legal firms and estate agencies. Conister Bank’s Managing Director, Juan Kelly, was joined by Douglas Grant, Group Finance Director, Ian Crawford – an independent financial advisor with Conister’s sister company, Edgewater Associates – and Conister’s Head of Sales, Andy Bass.
Welcoming the assembled audience to the launch, Andy gave a presentation in which he set out both the Bridging Loan concept – essentially, a short-term solution designed to ‘bridge’ the financial gap between buying and selling a property - and the Bank’s decision to develop a tailored product for their customers.
He explained that although such loans may have fallen out of favour over the last decade, having been seen by many lenders as too risky, Conister decided to challenge this negative perception with a product which will facilitate otherwise unreachable purchases and help to stimulate the local property market.
Conister anticipates that the Bridging Loan, which is available only to Isle of Man residents, will be ideal for primarily residential property owners, looking to move either up or down the ladder; landlords seeking to add to their portfolio; and developers on the lookout for investment opportunities.
In addition to its multiple property-related applications – including moving house, planning refurbishment and buying at auction – the facility can also be used for business funding, tax liability and temporary cash flow requirements.
The introduction of the loan should be good news for finance providers as it allows them to offer an additional option to their clients. And for estate agencies, it’s an opportunity to capture and increase sales.
Before concluding his presentation, Andy talked the audience through Conister’s lending criteria, describing “easy to use lending parameters aimed at providing your clients with an efficient service with realistic criteria that we really believe can work.
“We have not reinvented the wheel but we have thoroughly researched how best to bring this significant product back to the Isle of Man market successfully and with potential benefits to local residents and businesses, and therefore our economy as a whole”.
Approved Partner Scheme
Conister Bank has built a reputation for outstanding customer service, forging long and lasting relationships with members of the community. And now the bank's newly launched Approved Partner Scheme means customers can easily recognise a business that shares these values too.
The Approved Partner Scheme will make it easy for customers to find a business that can offer flexible payment plans that suit their needs and budget, with lending from Conister Bank. Businesses that sign up to the Approved Partner Scheme can benefit from Conister Bank's expertise to offer bespoke services to customers. They will be able to offer a range of payment options to their customers, including a 0% finance option, with no lending fees.
As Conister Bank continues to expand
Conister Bank has promoted Andy Bass to Head of Sales Isle of Man; this is a new position to facilitate growth within the business, and Andy’s role will focus on strategy and new product development as well as forging new relationships in the local community. Ian Drake has been appointed as the new Business Development Manager at Conister Bank. Ian said: "I'm delighted to be joining Andy Bass, to help raise business owners' awareness and understanding of Conister Bank's lending products. This is an exciting opportunity to be part of a growing initiative within the Bank."
The Big Handbag Sale
We want your HANDBAGS.... Do you have any handbags that you would like to donate to Manx Cancer Help? If so, you can donate them by dropping off at any Sure telecom shop in Ramsey, Douglas & Port Erin. We are also more than happy to collect if you would like to get in touch with either Kerry Waddington at Conister Bank 694664 or Gareth Nicholson Manx Cancer Help 679544.
All handbags donated will be resold by Conister Bank staff at Royal Manx Agricultural Show on 12th & 13th August.
We can only make this happen with your help!
Conister staff take part in Lisa Lowe Charity walk
10 mile walk from Crosby through St Marks then onto Ballasalla and finally making it to Castletown.
Conister Bank Gives School New Sporting Colours
Children at Cronk y Berry School are stepping out in striking new sports kits, thanks to Conister Bank. The independent bank, which is well-known for supporting the community through a variety of initiatives, has enabled the purchase of seventy five multi-sport kits for boys and girls at the Governor’s Hill primary school. Andy Bass and Kerry Waddington from Conister Bank visited the school to chat to the children, who were delighted with their brightly-coloured, top-to-toe sportswear.
Conister Bank Helps School Victim of Vandalism
After a greenhouse in its grounds was targeted by vandals, Andreas Primary School found a champion in Conister Bank.
In January, local media reported that police were searching for culprits after the school’s greenhouse door and two aluminium tables were damaged in the attack.
In response, the Conister Bank team pledged to replace the damaged greenhouse and supply new tables.
Manx Financial Group PLC 2015 Full Year Profit Increases by 34%
Manx Financial Group PLC 2015 Full Year Profit Increases by 34%
Jim Mellon, Executive Chairman and well known investor, commented:
“I am pleased to announce that we have secured a record Profit Before Tax for 2015, increasing by 34% to £2.3 million, providing a Return on Equity of 17.3% which, in relative terms to the UK banking sector, is extremely high."
