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Conister Bank has promoted Andy Bass to Head of Sales Isle of Man; this is a new position to facilitate growth within the business, and Andy’s role will focus on strategy and new product development as well as forging new relationships in the local community. Ian Drake has been appointed as the new Business Development Manager at Conister Bank. Ian said: "I'm delighted to be joining Andy Bass, to help raise business owners' awareness and understanding of Conister Bank's lending products. This is an exciting opportunity to be part of a growing initiative within the Bank."
Manx Financial Group PLC 2015 Full Year Profit Increases by 34%
Jim Mellon, Executive Chairman and well known investor, commented:
“I am pleased to announce that we have secured a record Profit Before Tax for 2015, increasing by 34% to £2.3 million, providing a Return on Equity of 17.3% which, in relative terms to the UK banking sector, is extremely high."
In the winter of 1935, when George V was on the throne and the prototype of the Spitfire was built, a group of Manxman founded Conister Trust, which opened its doors on Athol Street on December 5th. . The first directors were T.R. Radcliffe – the then editor of the IOM Examiner, J. Ashton from Ashton Garage Ltd, which later became Mylchreests Motors, and R.S. Homes, a Castletown baker. Their objective was to provide hire purchase finance to dealers in the Isle of Man whose only previous option had been to look to UK companies for their needs. At their first annual meeting, Mr Radcliffe is reported to have said, “Hire purchase is here to stay and is growing in volume”. How profoundly true his words were.
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%).
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?’
Conister Bank is pleased to announce they have agreed to become the main sponsor of Douglas High School Old Boys FC.
Conister’s Business Development Manager Andy Bass met with the squad at their Blackberry Lane ground on Saturday to present them with their new home and away strips.
An island bank has come up with a sizzling idea to help a cafe whose trade has been hit hard by roadworks.
Cafe Latte owner George Taylor claims takings have fallen 60 per cent since work on the Douglas promenades improvement scheme began.
But now Conister Bank has come to his aid - and has offered to buy breakfast for the first 100 customers through the doors of the Walpole Avenue cafe as from today (Monday September 1).
Manx Financial Group PLC, through its wholly-owned licensed banking subsidiary, Conister Bank Limited ('Conister Bank') continues to extend its distribution network through its use of Integrated Wholesale Funding Agreements ('IWFA').
Conister Bank are offering Manx farmers financial assistance to buy essential fertiliser products. Conister Bank is the Island's oldest independent lender and has stepped in to help local farmers following the shock announcement by ING late last year that they would no longer be providing credit facilities.