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Douglas Grant, Managing Director, chats to Paul Moulton from IOM TV about how Conister Bank has navigated its way through lockdown, how well the staff has adjusted, the resilience of the Isle of Man community, and reiterates that Conister Bank is here to help.
• 2020 lending totals £36.7m, surpassing 2019 by 16%
• Conister Bank has allocated £10 million to provide financial assistance to local businesses affected by COVID-19.
Douglas Grant, Managing Director of Conister Bank, commented: ‘We listen to our customers and constantly find solutions that work for them. This year we have enhanced our online lending ability; entered new markets; deepened our Approved Partner relationships and supported the local SME market when it mattered most. In addition to supporting the government’s COVID-19 business loan schemes, we took action ourselves and set aside £10 million to help limit the damage the pandemic was having on our community. We are proud to be the Island’s only independent bank, and for us, it was an easy decision to make.”
Conister Bank, the island’s local bank, continues to support Manx residents by setting aside £10m to provide crucial funding allowing businesses to survive and continue to trade despite the adverse effects of COVID-19.
As the island embraces its second lockdown, creating a further wave of uncertainty, Conister Bank continues as a participating lender for both of the Government-backed schemes, Isle of Man Disruption Loan Guarantee Agreement (DLGA) and the Coronavirus Business Working Capital Loan Agreement (WCLA).
• 2020 lending totals £131 million, surpassing 2019 by 7%
• Conister has also received an additional allocation of £5 million from the British Business Bank to focus on resilient businesses seeking funding
• Conister has lent £9 million through the British Business Bank’s BBLS
Conister Finance & Leasing Limited (“Conister”), part of Manx Financial Group PLC (AIM:MFX), today announces that it achieved record lending levels in 2020, by advancing deals totalling £131 million, representing a 7% increase on the total amount lent throughout 2019 (£122 million), by providing critical funding to small and medium sized enterprises (“SME”) as they navigate the economic impact of the COVID-19 pandemic.
From 12th January the Conister Bank office will be open for customers with reduced opening hours between 10am and 2pm. If a customer wishes to visit our office an appointment must be made beforehand.
Keeping you and our staff safe during this time is our main priority and we ask that if you have no alternative other than to visit our office, this must be done with the highest level of diligence in line with Government guidelines.
When entering our reception area, we politely ask that our customers:
✔Stay 2 metres apart
✔Use the hand sanitiser provided
✔Keep the visit short
✔Stay behind the partition
✔Cough or sneeze into your elbow
To make an appointment please call 694694 or email email@example.com
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 firstname.lastname@example.org
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.
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 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.
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.