Conister achieves record-breaking profits for third consecutive year

Profit before tax hits £7 million

Conister has achieved record-breaking profits for the third consecutive year.

The bank’s parent company – Manx Financial Group PLC – saw its profit before tax hit £7 million.

It represents a 35 percent increase from 2022.

The balance sheet grew by 26.7 percent and stood at £480.7 million.

In lending Conister Bank achieved advances of £352.5 million – a 52 percent increase from 2022.

Douglas Grant, Conister’s managing director and the group chief executive officer, said: "This year has been another landmark period for us, marking a continuation of our record-breaking success, for which I must extend my deepest gratitude to our dedicated team.  

"Their contributions have been the backbone of yet another highly successful year.

"The substantial increase in our lending operations underscores our strong market position across both the Island and the UK serving as a clear affirmation of the deep trust our customers have in us.  

"This trust forms the cornerstone of our foundation propelling us toward reaching even higher achievements in 2024 and the years to follow.  

"Our achievements are not just a measure of our financial performance but a reflection of our commitment to these values.  

"I look forward to continuing this journey guided by our dedication to making a positive impact on the lives of our customers and the communities we serve”.