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Manx Financial Group PLC, the AIM listed Isle of Man based financial services group, announced its interim results on Monday 17th August.
The Group, which includes local businesses Conister Bank Limited and Edgewater Associates Limited, recorded a profit of £1.01 million for the first six months of the year, another record figure that improves upon the £0.76 million for the same period in 2014. The Group’s total assets stand at £126.17 million (2014: £101.68 million) and shareholder equity stands at £10.89 million (2014: £9.25 million), a growth of 24% and 18% respectively. On an annualised basis, the Group’s return on equity at 16.3% shows a continued improvement (2014 full year: 15.6%).
By Pat Ainscough - Customer Services Receptionist
What a gloriously cloudless, sunny day Monday 23rd June was for the Isle of Man. A day to be spent at the beach, for sure: ice cream, lazing on a deck chair, sandcastles, maybe even a paddle, would be the normal order of the day. Not, however, for Conister Bank staff, who decided to roll their sleeves up, don some wellies and take time out of their working day to help Bill Dale of Beach Buddies with the Island’s volunteer beach cleaning charity!
Conister Bank has teamed up once again with Manx Cancer Help to launch its annual appeal for handbags. If you have handbags gathering dust at the back of your wardrobe, this is your opportunity to spring clean your closets and donate bags which can be resold and ‘re-loved’ to raise much needed funds for the charity.
If you fancy celebrating Midsummer Day by doing something truly memorable, how about getting on your bike? Taking place 27th-28th June 2015, Longest Day Longest Ride is a mountain bike endurance event open to individuals, pairs and teams, and it doesn’t matter whether you’re an experienced rider or a novice; the only prerequisites are enthusiasm and determination!
Conister Bank grows by 27% as Manx Financial Group posts a record profit of £1.73 million
Manx Financial Group PLC, the AIM listed Isle of Man based financial services group, including Conister Bank Limited and Edgewater Associates Limited, has recently reported its annual results for the year ended 31 December 2014.
Acclaimed Youth Scholarship Programme receives bank’s key support
Conister Bank continues its support for community initiatives by sponsoring the Youth Scholarship – Development and Leadership Programme. The programme, which is run by Adventurous Experiences, enables Year 12 students across the Isle of Man to take part in a once in a lifetime experience of teamwork and self-discovery.
By Juan Kelly, Managing Director, Conister Bank
The word ‘democracy’literally means people power, originating in its most direct form around 5BC. However, over time, direct democracy has become diluted to indirect democracy, commonplace today, where the people vote for representatives who go about the business of politics on behalf of the plebiscite. The argument for indirect democracy is often a pragmatic one. The administration of direct democracy is deemed to be cumbersome, particularly in larger populations where governments (which literally means mind control) have evolved into more complex institutions.
The Island has enjoyed decades of uninterrupted growth, and, in recent times, we have worked wonders at keeping one step ahead of most comparable jurisdictions in areas such as e-Gaming and Space Commerce. Credit is due to both the public and private sector for making this happen. We have done many things well, for example, our strategy of economic diversification. We must build on this success story. The key question is ‘how?’