Isle of Man Bank – Understanding our brands

We’re now NatWest Group

Come and visit us for all our latest news, insights and everything NatWest Group.


Isle of Man Bank – Understanding our brands

'Understanding our brands’ is a series of articles providing an overview of each of our brands. Here we look at Isle of Man Bank, which has a colourful history of more than 150 years of community banking.

Our news

25 October 2016

The Isle of Man Bank’s first banknotes were printed in black and brown with an illustration of the harbour of Douglas.

Early history:

The Isle of Man Bank was born out of a crisis. When two of the island’s banks (Bank of Mona and Dumbell & Howard) were forced to stop making payments. residents created a new and more stable bank in 1865 as they tried to avoid the vulnerability of their existing institutions.

Legal changes in the 19th century meant that many banks in England and Wales stopped issuing their own notesbut these changes didn’t affect the Isle of Man. The Isle of Man Bank’s first banknotes were printed in black and brown with an illustration of the harbour of Douglas. They were popular with islanders and, within a couple of weeks of first issuing them, more than 5,000 were in circulation. The bank continued to issue its own banknotes until 1961.

 

20th Century:

During the First World War, large internment camps were established on the Isle of Man at Peel and Douglas, and the bank gave the island government the overdraft facilities it needed to build them.

By 1917, many of those eligible for military service had volunteered to join up, so the bank faced serious staff shortages. The lack of men meant, in February that year, the bank hired its first female employee.

By the 1930s, savings accounts were introduced for customers who wanted to save small amounts. Thanks to an innovative savings solution introduced by the bank, they were given a money box disguised as a book that could be discreetly hidden in a bookcase at home. The word ‘thrift’ on the spine was a sly reference to its secret purpose. The contents could then be regularly transferred to their account.

 

History of logo:

The Manx triskelion dates from the late 13th century and is the symbol for the Isle of Man, Sicily, Brittany and the town of Füssen in Germany.

Posted In

Our news

Related articles

Ulster Bank – Understanding our brands

'Understanding our brands’ is a series of articles providing an overview of each of our brands. Here we look at Ulster Bank, the bank that supports personal, small business, private and commercial customers both in the Republic of Ireland and Northern Ireland.

Child & Co. – Understanding our brands

'Understanding our brands’ is a series of articles providing an overview on each of our brands. In this piece we look at Child & Co., one of the oldest private banks in the UK.

Latest news

RBS to help 2.5 million people each year to be more financially capable

RBS has today committed to helping 2.5 million people in the UK each year to improve their financial capability.

RBS to increase lending to sustainable energy sector following £1.1bn securitisation of loans to UK sustainable energy market

RBS has executed a £1.1bn securitisation deal with Macquarie Infrastructure Debt Investment Solutions (MIDIS), which will allow the bank to recycle capital and increase lending to the sustainable or renewable energy sectors.

RBS launches £1 billion Female Entrepreneurship Funding and announces targets to help create at least 50k new businesses by 2023

RBS has today announced a new £1 billion in funding through NatWest to support female entrepreneurs in the UK to scale and grow – the largest intervention by a UK lender focused specifically on female-led businesses.

We’re now NatWest Group

Come and visit us for all our latest news, insights and everything NatWest Group.

Set Tab for lightbox