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Isle of Man Bank


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The issue I have with IOM Bank is that they are being dishonest in the media bumph that they're pumping out.

As I mentioned previously they were telephone canvassing their customers a few months back who don't bank online (for whatever reason) to get them to sign up to it.

So to say that an increasing number of their customers had already moved over to mobile banking and had consequently rendered their counter service uneconomical is clearly untrue. In all probability the decision to close more branches was made last year, if not before. 

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On 9/17/2020 at 11:03 AM, John Wright said:

Conspiracy theory without foundation. For RBSI international to have been given permission to register IoM Bank as a Business Name the Registrar of Companies and the Regukator will have required that IoM Bank Limited changed its name. If it had stayed as IOM Bank it would have had to be registered with the Regulator and supervised at not inconsiderable cost.

Theres no suggestion it will be liquidated. Just fevered imaginations in tin foil hats.

I see no mention of a conspiracy theory. I was just replying to Phil who said "MAYBE". I think it "may be" correct given their longstanding problems. RBS Group (now NatWest Group) have been keeping them on life support with cash injections and Covid-19 has just sped up the choice: amputation or cut off life support. Looks like they picked the first, with unsustainable branch closures, and they may be trying to force IOM Government's hand (as UK Government won't be interested) to absorb or subsidise retail functions. Liquidation is very possible as I think NatWest Group long-term goal "MAY" be to pull out of the IOM altogether, hoping for another banking group along with IOM Government to step in and assume the IOM Bank operations.

Edited by ThreeRaccoonsInATrenchCoat
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Sounds like there was a better turnout for the MG protests.

Certainly more chance of stirring the vote-chasing, parochially minded politicians in to some sort of action than changing the decision of a hard-nosed commercial Board who have probably never been anywhere near the IoM.

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18 minutes ago, TheTeapot said:

It's not much of a protest, not even a single placard. Maybe 50 people, mostly old. Cregeen holding court, Molutan on site. The angry butcher is in the thick of it but as he opposes closing the square to parking in the summer he can sod off.

My contacts in our nation's former capital tell me that the angry butcher tends to be angry about pretty well everything. Cregeen is simply ploughing the fields of his granny farm.

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5 hours ago, ThreeRaccoonsInATrenchCoat said:

I see no mention of a conspiracy theory. I was just replying to Phil who said "MAYBE". I think it "may be" correct given their longstanding problems. RBS Group (now NatWest Group) have been keeping them on life support with cash injections and Covid-19 has just sped up the choice: amputation or cut off life support. Looks like they picked the first, with unsustainable branch closures, and they may be trying to force IOM Government's hand (as UK Government won't be interested) to absorb or subsidise retail functions. Liquidation is very possible as I think NatWest Group long-term goal "MAY" be to pull out of the IOM altogether, hoping for another banking group along with IOM Government to step in and assume the IOM Bank operations.

And more conspiracy theory stuff.

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5 hours ago, TheTeapot said:

It's not much of a protest, not even a single placard. Maybe 50 people, mostly old. Cregeen holding court, Molutan on site. The angry butcher is in the thick of it but as he opposes closing the square to parking in the summer he can sod off.

Why shouldn't he be angry? Parking in Castletown isn't great & they have the whole of Castle Rushen grounds & gardens to hold street markets & stuff

The castle is much underused & underappreciated, even by MNH itself

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