Habib ceasing Manx operations
Another bank has confirmed it's pulling out of the Island.
Habib European Bank has surrendered its licence with the Financial Services Authority, and will shut its doors on Athol Street, Douglas next month.
It's understood the decision was made on 'good terms', and the private bank will continue its operations in the UK, Europe, Africa and the Middle East.
Habib has operated as a wholly owned subsidiary on the Island since 1982.
All deposits have been returned to its private clients, and four permanent staff have accepted voluntary redundancy agreements.
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