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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).
Circuit break lockdown 2.0 - Conister Bank's office will be open for customers with reduced opening hours between 10am and 2pm
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 firstname.lastname@example.org
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 email@example.com
Whilst Conister Bank isn’t on the front-line in the fight against Covid-19, that hasn’t stopped us from providing our own support to those that have needed it.
Throughout lockdown, we have tailored our products and services to support local customers and businesses, who, through no fault of their own have faced financial challenges.
As we enter the second half of 2020 in such uncertain times with many unknowns, Conister Bank’s message is that we are here to work with both existing, new customers and business owners who may be experiencing shifts in their business.
Conister Bank has been working closely with the Isle of Man Government to assist local businesses that have been unable to access funding via their banks or do not qualify for assistance via the Disruption Loan Guarantee Agreement.
The new Working Capital Loan is designed to provide a lifeline to businesses and maybe the difference between surviving or not. These loans can help alleviate cash flow issues and assist with wages, running costs, bills, ongoing projects and rental costs.
With Isle of Man Government backing, the Working Capital Loan is structured to ease the pressure of making sizeable capital repayments in the first year, giving your business a chance to regain momentum as the Island returns to some resemblance of normality.
Conister Bank’s parent company Manx Financial Group PLC announces a 11.5% growth in profit year on year.
Profits at the locally based financial services group, which includes Conister Bank Limited, Edgewater Associates Limited and Manx FX Limited, have continued to increase since their latest published results.
Manx Financial Group PLC’s full-year results were published this week and highlighted yet another successful year for the Group.
Jim Mellon, Executive Chairman, commented: “I am pleased to announce that the outcome for 2019 showed a significant increase in profitability in comparison to 2018, finishing the year with an 11.54% uplift. We continued to strengthen our balance sheet, with a significant increase in liquidity, which has prepared us well for dealing with the issues surrounding COVID-19.”
Conister Bank continues to perform with profits of £2.6 million before tax which is an increase of 18% compared to last year. Total assets have grown by 28.7% to £245.7 million.
Douglas Grant, Managing Director of Conister Bank, commented on the Bank’s performance, “2019 was another year of progress for Conister Bank, continuing our positive momentum across our major markets. Advances during the year more than doubled the level achieved just two years ago, with lending £51.7 million ahead of last year at £153.8 million.
We are proud to be the island’s only independent community bank and we will continue to stand fast and support local businesses, their employees and their families.”
Conister Bank now offers our customers the ability to make a loan payment through the Conister Bank Payment Portal referred to as QuickPay. This means you don’t have to call or email an advisor to make a payment against your account but can do so through QuickPay through our website.
Conister Bank Limited, the Island’s leading independent bank, is pleased to announce the appointment of two new Isle of Man based non-executive Directors, Sam Skelton and John Spellman. These appointments have been made to add additional NED experience to the Bank’s board as it continues to innovate its deposit and loan offering on Island.
Sam Skelton is joining the Board of Conister Bank Limited with immediate effect bringing with him a wealth of banking and financial experience gained during his 32-year career working for the RBS Group both in the U.K. and in the Isle of Man.
Sam is an economics graduate, and within the wider RBS Group, Sam held a number of key roles throughout his career including director for Coutts International Ltd and director and chairman for Lombard Isle of Man Ltd.
In joining the Board Sam said “It’s a great privilege to have this opportunity to join a local bank which has such a long history and fine pedigree with a true go-ahead attitude underpinned by such great staff and customers.
It’s accepted these are very challenging times for us all but I genuinely feel Conister Bank has and will continue to make a difference in supporting businesses and individuals to get through these difficulties and I hope in some small way to compliment Douglas Grant and his fellow executive directors in leading the Bank through to a more normal business environment.”
John Spellman is joining the Boards of Conister Bank Limited and its parent company, Manx Financial Group PLC, with immediate effect.
During John’s career, he gained experience in banking, fund management and accountancy, specialising in various parts of the offshore industry. John has also worked with, and created, a number of successful locally based businesses and acted as a strategic advisor to the Government, specialising in the finance sector and foreign direct investment.
In joining the Boards John said “I am delighted to join the Boards of Conister Bank and Manx Financial Group. I hope to use my experience to help support the business to further success in the future.”
Douglas Grant, Managing Director of Conister Bank Limited, commented: “on behalf of everyone at Conister Bank and Manx Financial Group, I am delighted to welcome Sam and John to our Boards. Both are highly regarded in their respective fields and I look forward to their valuable insights as we continue to expand our operations both on Island and further afield."
Conister Bank Limited’s emergency coronavirus business loans are now available, following a rapid response to the crisis.
Last week, the independent bank announced it had set aside £10 million to provide loans to businesses negatively impacted by the coronavirus and the cancellation of this year’s TT races.
Conister Bank is offering an interest-only repayment period of 12 months for these loans, followed by a one to five-year settlement period reflecting the wishes of the business. Also, the bank will half its charges on the settlement period of the loan.
Managing Director, Douglas Grant, said: ‘One of our greatest strengths as an independent bank is that we can act quickly to help the community in an evolving situation. With the crisis caused by the spread of the coronavirus, the cancellation of the TT, and cessation of nearly all flights, we recognise this is an extraordinary situation. We at Conister Bank are determined to help in any way we can to assist the community-wide effort to see the Isle of Man through this challenging time.’
He added: ‘Our staff have worked incredibly quickly to ensure these loans are available now when local businesses need them.’
To find out more about the loans, contact Conister on 694694 or apply online http://conistebank.co.im