Conister
Encyclopedia
Manx Financial Group PLC (MFG) is the holding company
of a financial services
group which includes Conister Bank Limited, Transsend Holdings Limited and their respective subsidiaries. Manx Financial Group PLC is a publicly traded company on the London Stock Exchange
with a symbol of (LSE:
MFX).
based company, established in 1935 and named after the Conister Rock. Conister Bank Limited is a licensed independent bank, regulated by the Financial Supervision Commission in the Isle of Man
.
Conister has traditionally operated in the Asset Finance area providing finance to companies and individuals on the Isle of Man
; to military personnel through its operation in Peterborough
and to small / medium enterprise clients through its operation in Wigan
. To this day, Conister Bank specialises in providing finance for personal and business use. The bulk of this traditional business consists of financial products for private cars, business vehicles, domestic furniture and electrical equipment. Personal loans
are a growing part of the Manx
business and these can be obtained for events and projects such as holidays, weddings, home improvements etc.
More recently, the banking division has diversified into the insurance premium finance market and treasury management
for high net worth
clients.
s to the business world.
Operating across many sectors, TransSend works with vertical industries to supply business clients with prepaid card programmes.
Holding company
A holding company is a company or firm that owns other companies' outstanding stock. It usually refers to a company which does not produce goods or services itself; rather, its purpose is to own shares of other companies. Holding companies allow the reduction of risk for the owners and can allow...
of a financial services
Financial services
Financial services refer to services provided by the finance industry. The finance industry encompasses a broad range of organizations that deal with the management of money. Among these organizations are credit unions, banks, credit card companies, insurance companies, consumer finance companies,...
group which includes Conister Bank Limited, Transsend Holdings Limited and their respective subsidiaries. Manx Financial Group PLC is a publicly traded company on the London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
with a symbol of (LSE:
MFX).
Conister Bank
Conister Bank Limited (formerly Conister Trust Limited) is the Banking Division of the Manx Financial Group (MFG PLC) that was formed as part of a ‘Scheme of Arrangement’ in January 2008. Conister Bank Limited is an Isle of ManIsle of Man
The Isle of Man , otherwise known simply as Mann , is a self-governing British Crown Dependency, located in the Irish Sea between the islands of Great Britain and Ireland, within the British Isles. The head of state is Queen Elizabeth II, who holds the title of Lord of Mann. The Lord of Mann is...
based company, established in 1935 and named after the Conister Rock. Conister Bank Limited is a licensed independent bank, regulated by the Financial Supervision Commission in the Isle of Man
Isle of Man
The Isle of Man , otherwise known simply as Mann , is a self-governing British Crown Dependency, located in the Irish Sea between the islands of Great Britain and Ireland, within the British Isles. The head of state is Queen Elizabeth II, who holds the title of Lord of Mann. The Lord of Mann is...
.
Conister has traditionally operated in the Asset Finance area providing finance to companies and individuals on the Isle of Man
Isle of Man
The Isle of Man , otherwise known simply as Mann , is a self-governing British Crown Dependency, located in the Irish Sea between the islands of Great Britain and Ireland, within the British Isles. The head of state is Queen Elizabeth II, who holds the title of Lord of Mann. The Lord of Mann is...
; to military personnel through its operation in Peterborough
Peterborough
Peterborough is a cathedral city and unitary authority area in the East of England, with an estimated population of in June 2007. For ceremonial purposes it is in the county of Cambridgeshire. Situated north of London, the city stands on the River Nene which flows into the North Sea...
and to small / medium enterprise clients through its operation in Wigan
Wigan
Wigan is a town in Greater Manchester, England. It stands on the River Douglas, south-west of Bolton, north of Warrington and west-northwest of Manchester. Wigan is the largest settlement in the Metropolitan Borough of Wigan and is its administrative centre. The town of Wigan had a total...
. To this day, Conister Bank specialises in providing finance for personal and business use. The bulk of this traditional business consists of financial products for private cars, business vehicles, domestic furniture and electrical equipment. Personal loans
Loan
A loan is a type of debt. Like all debt instruments, a loan entails the redistribution of financial assets over time, between the lender and the borrower....
are a growing part of the Manx
Manx
Manx is an adjective describing things or people related to the Isle of Man:* Manx people**Manx surnames* Isle of ManIt may also refer to:-Languages:...
business and these can be obtained for events and projects such as holidays, weddings, home improvements etc.
More recently, the banking division has diversified into the insurance premium finance market and treasury management
Treasury management
Treasury management includes management of an enterprise's holdings, with the ultimate goal of maximizing the firm's liquidity and mitigating its operational, financial and reputational risk. Treasury Management includes a firm's collections, disbursements, concentration, investment and funding...
for high net worth
Net worth
In business, net worth is the total assets minus total outside liabilities of an individual or a company. For a company, this is called shareholders' preference and may be referred to as book value. Net worth is stated as at a particular year in time...
clients.
TransSend
This division was established in 2007 to provide payment solutionSolution
In chemistry, a solution is a homogeneous mixture composed of only one phase. In such a mixture, a solute is dissolved in another substance, known as a solvent. The solvent does the dissolving.- Types of solutions :...
s to the business world.
Operating across many sectors, TransSend works with vertical industries to supply business clients with prepaid card programmes.