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Rivers Leasing secures £6.25 million growth finance package from Conister Bank
Rivers Finance Group PLC (‘Rivers’) has secured a funding package from Conister Bank, with the advisory support of LGB Capital Markets, to grow its established Rivers Leasing business and launch a new block discounting product in the wake of the Covid-19 pandemic.
Conister has also taken a minority equity position in Rivers.
Ratan Daryani, Chairman of Rivers Finance Group, said, “It is wonderful to be starting the post-lockdown year at a point where we can bring plans for the company’s growth and development to fruition, and, in particular, to be doing so with the support of those that we both respect and have longstanding relationships with.”
Douglas Grant, Managing Director of Conister Bank, said, "As the economy reopens following an unprecedented year of lockdowns, we are continuing to look for ways to support resilient SMEs which are able to adapt to the post-Covid-19 economy.
“Rivers has demonstrated its strong fundamentals during this period and provided much needed support to SMEs that have struggled as other lenders have withdrawn from providing finance. We are delighted to support Rivers in its growth plans with this funding facility which is in line with the Group’s strategy of lending to resilient market sectors in the UK."
Conister Bank's Clara Isaac is playing a huge part in turning our island Green
Conister Bank wants to make a difference – The momentum towards greater sustainability in the financial sector has grown significantly in recent years. It operates a business that acts responsibly, is sustainable and promotes sustainability in what it does.
This is not new; it is part of their vision, so much so, that they have formed a ‘Green Team’ to drive this incentive internally.
Managing Director, Douglas Grant comments “It is vital that, as a team, we come together and strive to cultivate a robust community that supports the Bank’s green initiatives.
Conister’s commitment to a greener future has inspired one of its staff members that she is launching a brand-new service to benefit the island.
Clara Isaac who is Head of Management Accounting was so encouraged by Conister’s green initiatives that she is setting up a recycling collection service to offer those people who live in areas where there are no kerbside collections the chance to still participate.
Conister Bank channelling ESG for a more sustainable future
Conister Bank has taken a further step along the path towards a more sustainable future.
Douglas Grant, Managing Director of Conister Bank is interviewed by IOM Portfolio to discuss the role that Conister intends to play within the Isle of Man in tackling climate change.
Conister’s ESG and Sustainability Plan have been finalised to ensure its key focus in sustainable business practices benefits its customers as they continue to grow their product offerings providing sustainable choices across the business.
Find out more as to how Douglas intends to operate a business that acts responsibly, is sustainable, and which promotes sustainability in what it does.
Meet the face behind recyclecollect.im
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Clara Isaac who is Head of Management Accounting was so encouraged by Conister’s green initiatives that she is setting up a recycling collection service to offer those people who live in areas where there are no kerbside collections the chance to still participate.
The concept is to encourage people to register their interest in taking part in doorstep collections and when enough people show interest in a particular area, then we will arrange the pick-up of their recycling.
Read all about Clara and why she is so passionate about recycling.
Conister Bank stands up to supports Mental Health Awareness Week
“It’s okay not to be okay and you are not alone”.
Mental Health Awareness Week runs from Monday 10 May to Sunday 16 May 2021.
Conister Bank stands up to support the island to encourage conversations about mental health. The Conister team has gone green today and through donations and a raffle has raised a grand total of £484 which will be donated to a local charity, Isle Listen.
Over the past year, many people have experienced mental health issues or seen a loved one struggle.
Let’s stop the stigma and start a conversation on mental wellbeing.
It is important that people know that support is out there in the form of charities such as Isle Listen.
Isle listen is a charitable initiative that provides support and training in schools, the workplace, and the community, helping people to recognise that mental health is just as important as physical health.
Conister Bank services at the touch of a button
Conister Bank is making more business available at the touch of the button with a digitisation process that fits in perfectly with its moves towards greater sustainability. It is providing its customers with the ability to apply for loans through methods other than face to face contact.
Chief Operating Officer and Director, Haseeb Qureshi talks to Business 365 about spearheading the drive and discusses the four main areas that Conister Bank is focusing on to making the digital transformation plan work for the customers and banks.
1. Defining your customer experience: Putting customers and their needs to the forefront to build solutions with staying power.
2. Taking a device view: Customers expect product and service accessibility from portable devices, at a moment’s notice.
3. Developing a data strategy for personalisation: Building solutions means knowing what data you have, what data you need, what questions you need to ask of that data, and how to interpret the answers.
4. Selecting the right technology platforms: When building new services into operations which are subject to high levels of regulatory scrutiny as banking, choosing the correct platforms to use and how to use them is essential.
Read more to discover how Haseeb’s vision of digitisation will help enhance Conister Bank’s customer service offering.
Conister Bank celebrates World Earth Day 2021!!
Earth Day, is celebrated every year on 22 April, and is designed to drive action on the environment and climate crisis around the world.
Earth Day was created in 1970 when the modern environmental movement began and Gaylord Nelson was inspired to celebrate 'Earth Day' as a way to force this issue onto the national agenda.
Earth Day's mission is to diversify, educate and activate the environmental movement worldwide. Earth Day seeks to encourage people to act to drive transformational change and enthusiasm, and commitment to create a sustainable future.
To celebrate this significant day, Conister Bank rewarded all of their staff with a desk plant.
Plants in the office can assist to clean the air, they help reduce carbon dioxide levels by about 10% in air-conditioned offices, they allegedly help to reduce stress and they can boost focus and creativity.
How to spot a resilient business
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Douglas Grant, Managing Director of Conister Bank, provides a guide identifying and protecting a resilient business.
So, what constitutes a resilient business and how can you spot and protect one? The pandemic has unquestionably focused our attention on resilient businesses as we have witnessed firms rapidly adapting and responding to all types of risks with sectors closing overnight, industries being mothballed, cashflows being decimated, working practices being altered, technological issues, production challenges and many more. With this backdrop we believe there are five fundamental pillars that you should look for when assessing the robustness of a company, namely:
The company’s operating location
The longevity of the market
The sector’s competitiveness
Barriers to market entry, and
Your business’s USPs
Savings accounts at Conister Bank can help your money grow.
At Conister Bank you can invest your savings in any of our Fixed Rate and Variable Rate deposit accounts.
Savings accounts at Conister Bank can help your money grow especially in the 1 Year Fixed Rate Fixed-Term savings account, where you can earn up to 1%.
The Fixed Rate Fixed Term deposit account terms begin at 6 months to a 5 year term with annual or monthly interest options. The minimum balance is £5,000 and a maximum of £1,000,000.
The Variable Rate Notice deposit accounts terms range from 95 Days, 120 Days and 180 Days' notice period. Interest is paid semi annually on 30th June and 31st December. The minimum balance is £10,000 and a maximum of £1,000,000.
All our deposit accounts are available to individuals and business customers.
Carbon footprint report kickstarts Conister Bank’s pathway to improve
Douglas Grant, Managing Director of Conister Bank features in April's edition of Portfolio Magazine.
In the article Douglas openly discusses Conister's pathway to achieving a sustainable future, the results of the carbon footprint analysis, and how Conister is acting upon its findings and its plans for improvement. The bank, which recently celebrated 85 years at the heart of the Isle of Man community, engaged a consultant to review, measure and suggest ways to improve the bank’s environmental, social, and governance performance.
Douglas Grant comments ‘We are committed to reducing our carbon footprint and increasing our sustainability, as a business, and to help our clients achieve the same. Commissioning the report into our carbon footprint was an important starting point and now we have the results, it underlines how much we need to do. ‘Now we have a baseline and a plan on how we can reduce these amounts.’’
As an independent institution, Conister Bank has the flexibility to tailor its services and products to the needs of its clients and that applies to its Green Finance Strategy.
A key component of achieving the bank’s aims will be to try to make things more straightforward for those looking to work towards a better future.
