Isle of Man Bank reduces branch footprint as it increases investment in digital banking

Isle of Man Bank today announced the reduction of its branch network in Isle of Man from the 7th January 2021 as it makes further investments in digital banking.

The move, which will see the Peel and Castletown branches close, comes as more customers use digital and online banking.

This change in branch footprint brings with it the opening of a voluntary redundancy register across the bank. Isle of Man Bank is working with colleagues and trade unions to support colleagues affected by these changes.

Andrew McLaughlin, CEO of RBS International said, “In recent years we’ve seen significant changes in customer behaviour with more customers choosing digital for their everyday banking needs. We must rebalance investment between our branch network and our new digital network in recognition of the way customers wish to bank with us. Customers will still have the option to visit our branches in Ramsey, Port Erin and Regent Street and Athol Street in Douglas or speak with colleagues in our local banking telephony centre. We also have a dedicated telephony service for vulnerable customers in the Community. No branch is busier than our mobile banking service and today’s announcement recognises our need to move with the times”