'No hope' of U-turn on Isle of Man Bank branch closures

Two branches, including one in Peel, are due to close on 7 January

There is "no hope" that a decision to close two Isle of Man Bank branches will be reversed, despite public protests, an MHK has said.

Glenfaba and Peel MHK Geoffrey Boot said efforts to force a U-turn on the closures in Peel and Castletown had "reached the end of the road".

The bank's chief executive Andrew McLaughlin said footfall at branch counters had fallen by 55% over the previous five years.

The outlets will close on 7 January.

More than 100 people attended a protest in Castletown over the closures

The decision sparked public protests outside both branches when it was announced in September, and an online petition demanding the branches remained open attracted almost 2,500 signatures.

Mr Boot and his fellow constituency MHK Ray Harmer outlined their opposition to the planned closure of the Peel branch in a letter to the bank.

In his response, Mr McLaughlin said there had been a "definite shift towards a cashless society" as more people chose to pay for items by card.

A "significant proportion" of the bank's customers had already moved to digital banking and counter services at branches in other parts of the island would remain available to those who had not, he added.

Mr Boot said it was "sad" that the letter "doesn't offer any hope" that the decision would be reversed.

"At the moment we're staring at a situation of a closed branch with no real alternative except people getting in their cars and driving to Douglas or Port Erin," he added.

A spokesman for the bank said a mobile banking branch, which was suspended earlier this year amid the coronavirus outbreak, would return on 11 January and would visit Peel and Castletown.