Conister News & Community
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Conister Bank will close the office from Thursday 7th January 2021 to follow Government guidance.
We are currently entering into Level 4 (Lockdown) under the Isle of Man Government COVID-19 Response Levels.
The office is CLOSED from Thursday 7th January until further notice. It is 'business as usual' as our staff are here to help as they will continue to work from home and follow Government guidance.
Conister Bank takes the safety and welfare of its staff and customers very seriously. We apologise for any inconvenience caused.
We are here to help, get in touch at 694694 or email info@conisterbank.co.im
Manx Financial Group - Dividend Scheme Announced
Conister Bank’s parent company Manx Financial Group PLC - Isle of Man-based financial services firm - Announces plans for the inaugural dividend. Outlines a dividend scheme meaning eligible shareholders can elect to be issued new shares or get a cash payout. Dividend amount to be based on post-tax profit for the year ending 2020.
The script option will enable eligible shareholders to increase their holding in the company in a simple, cost-effective way, by receiving new shares instead of cash. This will also allow the company to retain the cash in the business that would otherwise be paid as a dividend, aiding further growth.
London-based startup Proportunity helps the UK first-time home buyers nets £7.5M funding
Conister supports Proportunity as it seeks to positively contribute to the dynamics of the UK housing market as they help first-time homebuyers to move onto the property ladder following the post-lockdown housing boom.
Conister Bank – which is celebrating 85 years in business
Conister Bank is at the heart of Manx community.
Conister Bank – which is celebrating 85 years in business – has cemented its place in the island community. Over the decades it has remained an Isle of Man constant in the face of a number of global financial crises, a world war and this year’s coronavirus pandemic, and aims to continue doing so in the future, whatever that may hold.
Founded in 1935 under the name Conister Trust, the independent bank has always put the island’s community at the forefront of everything it does.
Conister Bank remembers Fraser Vaughan and raises £3,137 for CRY
In December last year, the Conister team were all saddened by the sudden death of Fraser Vaughan. Fraser joined our Finance team as a Reporting Accountant and although he had only worked with us for a short time he made a huge impact.
The staff at Conister wanted to remember Fraser and raise money for the charity Cardiac Risk In The Young - CRY which was chosen by his family. Cry is dedicated to raising awareness to prevent young sudden cardiac deaths through awareness, screening and research, and supporting affected families.
We are pleased to announce that the team raised a grand total of £3,137.10. Well done to our Social Committee who organised a cake sale, movie quiz, a sweet stand, raffle and crazy golf.
Finally, thank you to Fraser's parents and girlfriend for joining us to remember our colleague and friend.
Conister Bank is thrilled to be supporting the island's newest production company who are bringing children's stories to life through music, movement and laughter.
After what can only be described as a difficult year for many, Chloe and Michelle have added a little pizazz to our island!
Hello Little People was born when Chloë and Michelle found themselves back home on the Isle of Man as Covid-19 began to take hold. Having known each other for years back in their youth on the Island, they had parted ways to train professionally in the Arts. Now reunited on the ‘rock’ they couldn’t resist meeting up for a coffee when restrictions began to ease.
They are rooted in Manx culture, heritage and landscape and are constantly inspired by this mighty Celtic nation.
Ballakelly Farm's success with Conister's Working Capital Loan
Rachel & Alan from Ballakelly Farm on how Conister Bank helped their business during Covid-19.
How Charlie Corkill's business survived Covid-19 lockdown
The new Conister Bank Working Capital Loan is designed to provide a lifeline to businesses and may be the difference between surviving or not. These loans can help alleviate cash flow issues and assist with wages, running costs, bills, ongoing projects and rental costs.
Working Capital Loans from Conister Bank
Whilst Conister Bank isn’t on the front-line in the fight against Covid-19, that hasn’t stopped us from providing our own support to those that have needed it.
Throughout lockdown, we have tailored our products and services to support local customers and businesses, who, through no fault of their own have faced financial challenges.
As we enter the second half of 2020 in such uncertain times with many unknowns, Conister Bank’s message is that we are here to work with both existing, new customers and business owners who may be experiencing shifts in their business.
Conister Bank has been working closely with the Isle of Man Government to assist local businesses that have been unable to access funding via their banks or do not qualify for assistance via the Disruption Loan Guarantee Agreement.
The new Working Capital Loan is designed to provide a lifeline to businesses and maybe the difference between surviving or not. These loans can help alleviate cash flow issues and assist with wages, running costs, bills, ongoing projects and rental costs.
With Isle of Man Government backing, the Working Capital Loan is structured to ease the pressure of making sizeable capital repayments in the first year, giving your business a chance to regain momentum as the Island returns to some resemblance of normality.
Conister Bank’s parent company Manx Financial Group PLC announces a 11.5% growth in profit year on year.
Profits at the locally based financial services group, which includes Conister Bank Limited, Edgewater Associates Limited and Manx FX Limited, have continued to increase since their latest published results.
Manx Financial Group PLC’s full-year results were published this week and highlighted yet another successful year for the Group.
Jim Mellon, Executive Chairman, commented: “I am pleased to announce that the outcome for 2019 showed a significant increase in profitability in comparison to 2018, finishing the year with an 11.54% uplift. We continued to strengthen our balance sheet, with a significant increase in liquidity, which has prepared us well for dealing with the issues surrounding COVID-19.”
Conister Bank continues to perform with profits of £2.6 million before tax which is an increase of 18% compared to last year. Total assets have grown by 28.7% to £245.7 million.
Douglas Grant, Managing Director of Conister Bank, commented on the Bank’s performance, “2019 was another year of progress for Conister Bank, continuing our positive momentum across our major markets. Advances during the year more than doubled the level achieved just two years ago, with lending £51.7 million ahead of last year at £153.8 million.
We are proud to be the island’s only independent community bank and we will continue to stand fast and support local businesses, their employees and their families.”
