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A Year of Strategic Growth and Solid Performance

Conister Bank’s parent company Manx Financial Group PLC (LSE: MFX) announces another record-breaking financial year in 2023, reinforcing its position as a leading provider of diversified financial services in the Isle of Man and the United Kingdom.

Conister Bank has demonstrated exceptional agility and strategic vision. Through targeted growth efforts, operational advancements, and an unwavering dedication to serving customer needs, and has not only secured remarkable financial achievements but has also established a solid groundwork for future expansion, especially in the UK. As it continues to navigate the complexities of the financial landscape, Conister Bank stands ready for ongoing success, highlighting its position as a dynamic and resilient force in the banking sector.

2023 Annual Highlights:
** Profit Before Tax: £7 million, up by +35% (2022: £5.20 million)
** Balance Sheet Growth: £480.7 million, up by +26.7% (2022: £379.3 million)
** Advances: £352.5 million, up by +52% (2022: £231.4 million)

Island on course for a good year, the 2024 Conister Bank sponsored Three Ministers Event is told

At the 2024 Isle of Man Chamber of Commerce Three Ministers Event, sponsored by Conister Bank and held at the Comis Hotel, the Island’s business community received a cautiously optimistic update on the economic strategy “Our Island Plan.” Chief Minister Alf Cannan MHK, Treasury Minister Dr. Alex Allinson MHK, and Enterprise Minister Tim Johnston MHK delivered progress reports. The event, hosted by Chamber President Kristan McDonald, emphasized the critical role of attendees in the Island’s economy.

Chief Minister Cannan outlined ambitious targets for 2026, including creating 5000 new jobs, a £10 billion economy, and a 100,000 population. He cited ongoing projects like job creation, welcoming new residents, constructing homes, and improving health and education systems. Despite challenges like Covid aftermath and global concerns, Cannan expressed confidence in achieving these goals and in the Island's economic resilience.

Minister Allinson discussed the Island's strong economic performance despite global challenges, emphasizing the government's role in ensuring financial stability and addressing issues like climate change and housing.

Minister Johnston highlighted the progress in job creation, infrastructural development, and sector-specific growth like eGaming and fintech. He stressed the importance of skilled workforce development and the government's role in fostering a diverse and sustainable economy.

The event also addressed internal government reforms, connectivity and travel challenges, international financial compliance, and the need for fiscal discipline amid rising costs and economic pressures. The Ministers emphasized the Island’s potential for growth and prosperity, acknowledging the private sector's role in achieving these objectives. The event concluded with discussions on immigration, financial regulation, and the importance of maintaining the Island's safety, security, and unique character.

Conister Bank makes history with landmark UK Deposit Taking Licence

The Isle of Man’s longest established community bank, Conister, has made history by becoming the oldest Island-based bank to secure a deposit-taking licence in the UK.

While many UK banks have obtained deposit-taking permissions in the Isle of Man in the past, Conister has now achieved the reverse by getting these permissions in the UK. This new authorisation, approved by the UK’s Financial Conduct Authority and the Prudential Regulation Authority, supports Conister's strategic goal to enter the UK deposit-taking market.

This will enhance its lending expansion in both regions. Established in 1935, Conister already lends approximately £0.35 billion annually to UK SMEs. This license will boost Conister's balance sheet growth, combining UK deposits with wholesale funding.

Douglas Grant, Conister Bank’s Managing Director, highlighted this as a pivotal achievement, reinforcing the Island's regulatory reputation. He emphasised Conister's commitment to its customers, compliance, and growth.

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 Announced as Title Sponsor for The 24 Hours of Le Dan's Cycling Event

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.

Jason Cain Promoted to Lead the Corporate Deposits Team at Conister Bank

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

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.

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Come and talk to our team in branch at:
Conister Bank Limited, Clarendon House, Victoria Street, Douglas, Isle of Man, IM1 2LN

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