Company type | Division of RBS International |
---|---|
Industry | Financial services |
Founded | 26 October 1865 |
Headquarters | Douglas, Isle of Man |
Key people | Ryan Smith - Head of Retail Banking Isle of Man Bank & NatWest International |
Products | Banking, insurance, mortgages |
Owner | NatWest Group |
Website | www |
The Isle of Man Bank is a bank in the British Crown dependency of the Isle of Man, providing retail, private and business banking services to the local population. Incorporated in 1865, it has operated as a trading name of RBS International since 2019. It is licensed by the Isle of Man Financial Services Authority in respect of deposit taking and investment business and registered as a general insurance intermediary.
The earliest Manx bank began business in 1802 at Bridge House, Castletown. Formed by George Quayle, Mark Quayle, John Taubman and James Kelly, it was also known as the Isle of Man Bank. [1] The company carried on trading until 1818. [2]
Founded by Samuel Harris, Henry Noble, William Moore and William Callister, [3] the Isle of Man Banking Co. Ltd. was established at Athol Street, Douglas, on 26 October 1865. It was the first limited liability company enrolled on the register following the passage of the Companies Act 1865. The bank was acquired by National Provincial Bank in 1961 and became a subsidiary of National Westminster Bank upon the merger of National Provincial with Westminster Bank in 1968, joining the Royal Bank of Scotland Group in 2000, when NatWest was acquired by the smaller Scottish bank. [4] RBS Group was renamed NatWest Group in 2020.
On 21 May 2019, the High Court of Justice of the Isle of Man granted approval to transfer the business and undertakings of Isle of Man Bank Limited to the Isle of Man branch of The Royal Bank of Scotland International Limited (trading as Isle of Man Bank); these changes came into effect on 28 May 2019. [5]
As of 2023 the bank has four branches on the island: Douglas Athol Street, Douglas Regent Street, Ramsey, and Port Erin. There is also a mobile branch named Penny, which visits places on the island that do not have a branch, including Kirk Michael, Laxey, Onchan, Ballaugh, Cooil Business Park (Braddan) and Ballasalla.
The Isle of Man Bank handles the issuing and management of Manx banknotes on behalf of the Isle of Man Government.
The Isle of Man Bank has closed several branches since 2000. These include the branches at Kirk Michael (closed 2012), Laxey sub-branch (closed 2013), Ballasalla, Onchan and Prospect Terrace in Douglas (closed 2015), [6] and Castletown and Peel (closed 2021). [7]
Isle of Man Bank is a member of the Isle of Man Depositors’ Compensation Scheme as set out in the Depositors’ Compensation Scheme Regulations 2010.
The Isle of Man has an extensive communications infrastructure consisting of telephone cables, submarine cables, and an array of television and mobile phone transmitters and towers.
Castletown is a town in the Isle of Man, geographically within the historical parish of Malew but administered separately. Lying at the south of the island, it was the Manx capital until 1869. The centre of town is dominated by Castle Rushen, a well-preserved medieval castle, originally built for a Viking king.
Onchan is a large village in the parish of Onchan on the Isle of Man. It is at the north end of Douglas Bay. Administratively a district, it has the second largest population of settlements on the island, after Douglas, with which it forms a conurbation.
The Isle of Man Railway (IMR) is a narrow gauge steam-operated railway connecting Douglas with Castletown and Port Erin in the Isle of Man. The line is 3 ft narrow gauge and 15+1⁄2 miles long. It is the remainder of what was a much larger network that also served the western town of Peel, the northern town of Ramsey and the mining village of Foxdale. Now in government ownership, it uses original rolling stock and locomotives and there are few concessions to modernity.
Ballasalla is a village in the parish of Malew in the south-east of the Isle of Man. The village is situated close to the Isle of Man Airport and 2 miles (3 km) north-east of the town of Castletown.
Manx National Heritage is the national heritage organisation for the Isle of Man. The organisation manages a significant proportion of the Island’s physical heritage assets including over 3,000 acres of coastline and landscape. It holds property, archives, artwork, library and museum collections in trust for the Manx nation. It is the Isle of Man's statutory heritage agency and an Isle of Man registered charity (№ 603).
Local governmentin the Isle of Man was formerly based on six sheadings, which were divided into seventeen parishes. The island is today divided for local government purposes into town districts, village districts, parish districts, and "districts", as follows:
Scouting on the Isle of Man is represented by the Scout Association of the United Kingdom. The Scout Association's Island Headquarters are at Cunningham House in Douglas. The association has its own campsite, Mullin ny Carty. Some of the Groups also have their own bunkhouses or campsites, in addition to their own headquarters.
Lombard North Central, trading as Lombard, is a finance company specialising in asset based lending. It is one of the largest finance houses in the United Kingdom and part of the ring-fenced business of NatWest Group. The company started life hiring out rolling stock to the railways in 1861.
The Royal Bank of Scotland International, trading under the NatWest International (retail), RBS International (institutional), Coutts Crown Dependencies and Isle of Man Bank brands, is the offshore banking arm of NatWest Group. It provides a range of services to personal, business, commercial, corporate and financial intermediary customers from its base in St. Helier, Jersey.
Braaid is a hamlet in the parish of Marown on the Isle of Man, about 6 km west of the capital Douglas. It is best known for the nearby ancient settlement of The Braaid. In Manx, braaid means 'gullet, gorge; breast of a hill', the latter meaning possibly in reference to the aforementioned ancient settlement.
National Westminster Bank Plc, trading as NatWest, is a major retail and commercial bank in the United Kingdom based in London, England. It was established in 1968 by the merger of National Provincial Bank and Westminster Bank. In 2000, it became part of The Royal Bank of Scotland Group, which was re-named NatWest Group in 2020. Following ringfencing of the group's core domestic business, the bank became a direct subsidiary of NatWest Holdings; NatWest Markets comprises the non-ringfenced investment banking arm. The British government currently owns 19.97% of NatWest Group after spending £45 billion bailing out the lender in 2008; the proportion at one point was 54.7%. NatWest International is a trading name of RBS International, which also sits outside the ringfence.
Raad ny Foillan is a coastal long-distance footpath in the Isle of Man. Because it is a closed loop around the coast, it can be walked in either a clockwise or an anti-clockwise direction.
This is a list of Registered Buildings and Conservation Areas of the Isle of Man. It includes buildings and structures in the Isle of Man designated by Isle of Man's Department of Environment, Food and Agriculture (DEFA) "as having special architectural or historical interest". Over 250 buildings and structures are listed, and 275 more have been identified as having potential for listing. It also lists the 21 Conservation Areas, historic districts" which protect "period"-type architecture, quality of building materials, relationships of enclosures and open spaces, and other aspects of the look and feel of historic buildings and areas.
NatWest Holdings Limited is an intermediate holding company for the NatWest Group's retail banking interests in the United Kingdom.
Dumbell's Bank was a bank in the Isle of Man. The bank's insolvency in 1900, known as Black Saturday and referred to in the Isle of Man as the Dumbell's Bank Crash, resulted in a run on the bank with many individuals losing their life savings and the ruin of numerous local businesses causing poverty, depression and bankruptcy. The effects were profound and lasted for a considerable number of years.