Online banking cause of bank closures

Wed, 08 Oct 2014

Online banking has been blamed for the decline of customers at banks across the Island.

That's the message from the managing director of the Isle of Man Bank the day after it was announced three branches would be shutting.

Prospect Terrace in Douglas, Onchan and Ballasalla will close in February after figures showed a 30 per cent drop in customers.

Bill Shimmins says although tough it was a decision that had to be made: