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Record Profits for Conister as Manx Financial Group announces stunning results for 2022
Manx Financial Group PLC, the parent company of Conister Bank Limited, has reported record profits for the year ended 31st December 2022.
In a stunning set of results, announced this week to the London Stock Exchange, MFG Group profits before tax increased by £2.2 million to £5.2 million, an increase of over 70% on 2021, with Conister itself playing a significant role.
The Bank set a new lending milestone of £231.4 million (2021: £212.6 million), an increase of 8.8%. Together with Conister Finance & Leasing, the loan book also increased, by £57.7 million to £292.1 million (2021: £234.4 million).
International Women’s Day – Still a Significant Event?
As an organisation, the Manx Financial Group, of which Conister Bank is a part, is far from alone in being an equal opportunity employer, where everyone is judged on their ability – not their sex. Indeed, two of the wholly owned subsidiaries within the Group currently have female MDs at the helm.
For some, it’s a key date in the calendar. For others, it simply passes by unnoticed, considered an outmoded concept.
In case you aren’t familiar with it, this Wednesday, 8th March, it is International Women’s Day (IWD) – recognised annually and positively celebrated in some parts of the world.
Now, More than Ever, Customers Come First
Conister Bank’s Head of Sales, Andy Bass, is responsible for the Isle of Man lending arm of the business is interviewed by Business 365. Here, he shares his secret for success and how to drive the bank’s future growth ambitions – and it’s all customer focussed.
Andy explains why Conister Bank is unique in its approach whilst navigating the current economic downturn, the cost-of-living crisis and inflationary pressures that have hit local businesses hard.
Despite these challenges, 2022 was a record year for lending in the Isle of Man.
Bold Economic Vision outlined at Conister Bank sponsored Three Ministers Event
The Isle of Man’s leading political figures have delivered an upbeat economic message to the Island’s business community at the Conister Bank sponsored Three Ministers Event 2023 – despite warnings that this year is likely to be a tough one.
Organised annually by the Isle of Man Chamber of Commerce, the Comis Hotel- hosted breakfast event saw presentations from IOM Chief Minister, Alfred Cannan; Treasury Minister, Dr Alex Allinson and Enterprise Minister, Lawrie Hooper.
Conister Bank to sponsor 2023 Three Ministers Event
Conister Bank are delighted to announce the sponsorship of the prestigious 2023 Three Ministers Event.
This key annual business gathering, organised by the Isle of Man Chamber of Commerce, will enable the Island’s corporate community to hear directly from Chief Minister, Alfred Cannan; Treasury Minister, Dr Alex Allinson; and Enterprise Minister, Lawrie Hooper.
It is being staged at the Comis Hotel and Golf Resort on Friday January 20th from 8.30am – 10.30am.
Each Minister will discuss the pressing topics affecting the Island at the current time, outlining their vision and objectives for the year ahead. Following the presentations, delegates will be given the opportunity to take part in a full Q&A session.
2023 – A time to invest in alternative lending
Pandemics, war, the impact of Brexit and an economic recession now in full swing - on the face of it, not the ideal backdrop for a mega 2023!
But, according to one of the Island’s leading bankers, even though companies and consumers alike face undoubted headwinds this winter and probably beyond, with careful stewardship, this it could still be a time of fresh opportunities – especially for small and medium sized businesses.
Douglas Grant, Managing Director of Conister Bank, said that his priority was to ensure both the bank and its customers stayed in good shape during the next 12 months and onwards.
“Navigating the current economic downturn, the cost-of-living crisis and inflationary pressures are this year’s major challenges for SMEs,” he said.
“Many people have been incredibly disadvantaged by the cost of fuel and rising prices generally. And wage inflation has not kept up with price inflation. This impacts every family, but it also impacts every business, too. They are just as prone to the increases in inflation as everyone else,” Douglas commented, adding that the bank had already taken action to help vulnerable customers.
“It’s tough for businesses to become more strategic and resilient when they are being hit by generational economic problems – but it can be done,” he said. “Nurturing good talent, embracing technology, focussing on resilient sectors that you understand along with optimising your working capital, these are all sensible housekeeping rules to bear in mind,” Douglas advised.
Catherine Jack appointed Group Talent Acquisition Lead
Manx Financial Group (MFG) have announced the appointment of Catherine Jack as Group Talent Acquisition Lead.
Catherine will spearhead recruitment across all areas of the Group in making strategic hiring decisions relating to operations, audit, risk, sales and IT.
Commenting on the appointment, Group CEO Douglas Grant, said: “The expansion of our existing HR operation is a clear indication of our intention to pursue a high-quality recruitment programme, at a time of exciting growth. Catherine is a hugely experienced recruiter, with specific and invaluable knowledge of the financial services industry, which includes close involvement with the Manx Financial Group since 2019. Her strong industry connections, unrivalled knowledge and dedication will be hugely influential during such a significant phase of our development.”
Conister Bank employs - Star of the North!
There’s a fresh face in the Conister sales team! We’re delighted to announce the appointment of Shaun Kelly as our new Sales Manager.
Working alongside Tom Charmer, Lee Gale, and Andrew Moody, Shaun will have specific responsibility for the North of the Island, an area he knows like the back of his hand.
Welcoming him into the fold, Head of Sales Andy Bass said Shaun will be a great asset to the sales team. “I first met Shaun back in September at a sporting event in which we were both participating and, getting to know him, I immediately felt he could play a key role for us at Conister. He’s a great fit for my team and will really complement our existing sales force.”
Net Zero Matrix and the curse of Greenwashing
Net Zero Matrix – the title suggests it could be the title of a new blockbuster sci-fi movie. But it’s nothing of the sort!
It’s connected to the very real-life subject of greenhouse gas emissions in the atmosphere and the concept of net zero – a term relating to the desired balance between what’s being spewed out and what’s being removed.
It formed the subject of this month’s Isle of Man Chamber of Commerce Sustainability Group meeting – sponsored by Conister Bank.
The event held on 17th November at the iMuseum, attended by a broad cross-section of the Island’s business community.
The presentation was made by Jon Curtis, CEO of Energy Management Group, Curtis Associates, who specialise in managing data for the entire spectrum of the energy industry. Jon’s been a passionate advocate of replacing fossil fuels with renewable alternatives, advancing carbon sequestration projects. He is also behind the concept of Net Zero Matrix.
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Conister - the Island Bank that’s taking the UK by storm
Haseeb Qureshi, Chief Operating Officer and Deputy Managing Director at Conister Bank, is interviewed by Business 365 and explains how he plans to take the UK by storm as he leads the expansion of Conister Bank into the UK.
His has been something of a meteoric rise since joining the Bank in 2017 as Head of Internal Audit. Within just 18 months, he was promoted to COO and, a year later, he’d become an executive Director on the Conister Board.
Now, this self-confessed man of action and routine is working out how best to divide his time between here and heading up the UK’s new headquarters in the South of the UK.
Throughout his time at Conister, one area has dominated his thoughts – digitalisation - and its role in optimising the customer experience. Fascinated by tech, especially its application in financial services, Haseeb’s been instrumental in driving Conister’s digital agenda, which has transformed the Bank’s IOM service offering in recent years.