Conister Bank Celebrates Record Results with Strong Growth and Local Focus
02 July 2025
In 2024, MFG’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.
Focused on Supporting Customers and the Community
Customers in the Isle of Man and the UK remain central to Conister Bank’s mission. 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, which along with £91.1 million in cash and near cash assets demonstrates its continued financial strength. This upward trend underscores Conister’s resilience and its ability to adapt to evolving market conditions.
Investing in the Future
Douglas Grant, Group CEO and Conister Bank Managing Director commented:
“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”.
Looking Ahead with Confidence
To recognise 2024’s strong performance, the MFG Board has proposed a 48.6% increase in dividends, totally totalling £0.810m, reinforcing their ongoing commitment to shareholders, many of whom are right here on the Isle of Man.
With a legacy spanning over 90 years, Conister Bank remains proud of its longstanding support for the Island’s community. The Bank continues to build on this heritage by helping customers, businesses, and the local economy grow stronger together.