Conister Bank has recorded a record-breaking set of financial results for 2024.
In 2024, the Manx Financial Group’s profit before tax rose by an impressive 41% to £9.9 million up from £7.0 million the previous year.
Conister Bank’s balance sheet also continues to increase, with total assets now standing at £474.1 million, with total equity increasing by 10.6% to £45.9 million, a clear sign of continued financial strength and effective management.
Record Breaking
Through robust deposit growth and responsible lending practices, Conister continues to demonstrate its commitment to supporting individuals and businesses across the Island.
Conister Bank lends on average £1 million a week on island and £6 million a week in the UK.
This lending drove a notable increase in loans and advances during 2024, reaching a record £366.1 million, along with £91.1 million in cash and near cash assets.
Investing in The Future
Douglas Grant, Group CEO and Conister Bank Managing Director said:
“These are significant results for Conister Bank and our other local businesses, Edgewater Associates Limited and MFX Limited, as individually and as a Group we continue to invest in systems, service and people.
“Our commitment to responsible growth includes setting aside provisions and maintaining disciplined financial controls. We remain well positioned for future growth despite this challenging economic environment”.
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