Isle of Man Bank remains committed to its customers in the island,despite planned ‘legal entity’ changes.

That’s the message from Paul Smith, managing director of Isle of Man Bank.

RBS International intends to move the Isle of Man Bank business from its current legal entity, Isle of Man Bank Limited, to the Royal Bank of Scotland International Limited (RBS International).

Both entities are already part of the RBS International Holdings group.

The bank says it is making this change in response to changes in their trading environment.

But Mr Smith said it won’t change the way they serve customers and Isle of Man Bank sort codes, account numbers and services will stay the same.

The change is subject to approval from the High Court of Justice in the Isle of Man and the Isle of Man Financial Services Authority.

The bank has written to all customers of the Isle of Man Bank and will write again later this year to provide further information about the proposed transfer.

Mr Smith said: ‘There will be no changes to the Isle of Man Bank brand or branches at this time.

‘We’ve invested heavily in our headquarters in Athol Street and will continue with that investment in the future.

‘RBS International has expressed they’re very proud of Isle of Man Bank and understand the importance of the Isle of Man Bank brand for customers, colleagues and the whole community in the Isle of Man.’