IOM Bank Closure

Further to the news from the Isle of Man Bank stating their intention to close the Castletown Branch, The Board will discuss the matter in full at their next meeting.
Castletown Town Commissioners Chairman David Parnell has made the following statement in the interim.
“I am deeply concerned at the bank’s decision. Castletown is an important town, both to residents of the town itself and wider population of the South who travel to the town for their everyday business and the decision is clearly disappointing.
The Commissioners use the Isle of Man Bank for our day to day transactions and we have first-hand experience of how this announcement will impact on local businesses and the team at the bank who provide a personal service to the community.
The Commissioners will work with Central Government as hard as we can to minimise the impact of the proposed closure on local businesses and residents.
The future of retail banking in the internet age has been a matter of debate over the last decade and what is ultimately a commercial decision is regrettable but not entirely unexpected.
As a community we must be resolute in our belief that Castletown is bigger than the Isle of Man Bank, and we are sure that with the resurgence in confidence around the town this will ultimately be seen as an opportunity to continue the towns regeneration.
The bank have assured the Commissioners that they will share the data on which this decision has been made and if the Isle of Man bank are unwilling to reconsider this decision then I am sure that this landmark Building will be appeal for a number of uses given its prominent position and private onsite car parking.”