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IOM Bank accused of rudeness in closure of branches

The Isle of Man Bank had been accused of being 'very rude' in the way it handled the closure of some of its branches.

In Tynwald this morning North Douglas MHK John Houghton wanted to know why the bank hadn't given Treasury department more notice about its plans.

Treasury minister Eddie Teare confirmed he and his officers had a meeting with bank management on Monday October 6th.

The decision was taken to close branches in Onchan, Prospect Terrace and Ballasalla the next day.

Mr Houghton said there should have been more consultation, but Mr Teare said the bank was under no obligation to do so.

Mr Houghton then wanted an assurance that government would take over the Isle of Man Bank if it was shed by parent company the Royal Bank of Scotland International.

Mr Teare said that was in no way a possibility.


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