Conister bank secures deposit-taking licence

An Island based bank has secured a UK deposit-taking licence for the first time.

Conister Bank says it's achieved an historical milestone, which will potentially bring additional employment opportunities to the Isle of Man community.

The bank says gaining approval from the UK's Financial Conduct Authority and the Prudential Regulation Authority 'bolsters the reputation of the Island's regulatory environment.'

Conister Bank's accomplishment has been acknowledged as a significant moment in history, further reinforcing the Island's standing in the financial sector.