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Record Half Year Profits reported for Conister Bank parent company Manx Financial Group PLC (AIM:MFX)
Manx Financial Group PLC delivered record profits in H1 2023 with significant contributions made by Conister Bank.
• 30% surge in pre-tax profits reaching £3.0 million, a notable increase from £2.3 million as of June 2022.
• Conister Bank's lending touched a remarkable £182.6 million, 65% up from £110.9 million in the same period last year.
• Net loan book swelled by £98.3 million (40%) to stand at £343.3 million, marking a substantial growth from £244.9 million in June 2022.
• Deposits saw impressive growth, with an uptick of £78.9 million, totalling £332.5 million. A marked improvement from £253.6 million as of June 2022.
Conister Bank is proud to continue its support as the title sponsor of The 24 Hours of Le Dans cycling event. This partnership with The Dan Kneen Charitable Fund reflects the bank's commitment to promoting an active lifestyle and supporting the local community.
The event, now in its third year, attracts participants of all abilities and ages, aiming to encourage mass participation and create a fun-filled atmosphere. Conister Bank shares values of teamwork, personal challenge, and community engagement, making it a perfect fit for supporting Le Dans.
The 2023 edition will introduce new categories, including Electric Bikes and the return of Petit Le Dans for young riders. Andy Bass, Head of Sales at Conister Bank, expressed excitement about the event's growth and its ability to attract participants.
Taking place on August 5th and 6th at Jurby Racecourse, The 24 Hours of Le Dans offers various categories for participants and supports local charities.
Conister Bank is delighted to announce the promotion of Jason Cain to the position of Corporate Customer Service Associate where he will lead the newly formed Corporate Deposits Team. This promotion recognises Jason’s exceptional customer-centric approach utilising his excellent interpersonal and communication skills to establish and maintain strong relationships with corporate clients.
May Hooper, Head of Group Treasury at Conister Bank, is thrilled to welcome into the Corporate Deposit team.
Jason’s promotion highlights Conister Bank's commitment to recognising and developing talent within the organisation. By promoting from within, the bank ensures a seamless transition and maintains its dedication to providing exceptional service and building long-term partnerships.
To get in touch with Jason call 01624 694661 or email firstname.lastname@example.org
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).
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.
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.
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 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.
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.
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.”