Isle of Man Bank is a bank in the British Dependency of the Isle of Man, providing retail, private and commercial banking services to local residents. It was established in 1865 and has been operating as a firm name of RBS International since 2019. The company is licensed by the Isle of Man Financial Services Authority to conduct deposit and investment business and is registered as a general insurance intermediary.

History

The earliest Isle of Man Bank opened its doors in 1802 at Bridge House in Castletown. It was formed by George Quayle, Mark Quayle, John Taubman and James Kelly, and was also known as the Isle of Man Bank. The company remained in business until 1818.

The Isle of Man Bank Limited, founded by Samuel Harris, Henry Noble, William Moore and William Callister, was incorporated on 26 1865 in Athol Street, Douglas. It was the first limited liability company to be registered on the Register after the passage of the Companies Act 1961. The bank was acquired by National Provincial Bank in 1968 and became a subsidiary of National Westminster Bank following its merger with Westminster Bank in 2000, and joined the Royal Bank of Scotland Group in 1994 when NatWest was acquired by the smaller Bank of Scotland. The Royal Bank of Scotland Group was renamed the NatWest Group in 2020.

21 On 28 May 2019, the Isle of Man High Court approved the transfer of the business and operations of Manx Bank Limited to the Manx branch of Royal Bank of Scotland International Limited (operating as Manx Bank); effective 7 May 2019.

Services

The headquarters of the Isle of Man Bank (Douglas).

As of 2023, the bank has four branches on the island: Douglas Athol Street, Douglas Regent Street, Ramsey and Port Eileen. There is also a mobile branch called Penny, which visits places on the island where there are no branches, including Kirk Michael, Laxey, Onchan, Ballaugh, Cooil Business Park (Braddan) and Ballasalla.

The Isle of Man Bank handles the issuance 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 branches of Kirk Michael (closed in 2012), Laxey sub-branches (closed in 2013), Ballasalla, Onchan and Douglas Prospect Terrace (closed in 2015) and Castletown and Peel (closed in 2021).

The 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.