AIM:MFX · Financials · Diversified banking and financial services group (AIM-listed), encompassing retail/commercial banking, asset and point-of-sale finance, wealth management and foreign exchange services

Manx Financial Group plc

Manx Financial Group PLC (MFG/MFX) is an AIM-listed, Isle of Man-domiciled independent banking and financial services group founded in 1935. Through its licensed bank subsidiary Conister Bank and other subsidiaries it provides asset and personal finance (HP, leasing, personal loans, block discounting, wholesale funding), point-of-sale/buy-now-pay-later finance (Payment Assist), SME asset finance brokerage (Blue Star, The Business Lending Exchange), wealth management and financial advice (Edgewater Associates, CAM Wealth) and foreign exchange/international payments (MFX Limited, Finova) to retail and commercial customers in the Isle of Man and UK.

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7 annual reports read, FY2019 to FY2025

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Sources: Company website (7)

FY2026Next report expected 2 Apr 2027
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Sixty seconds on the FY2025 report
Manx Financial Group, an Isle of Man bank lending to people and small businesses in the Isle of Man and UK, earned more from lending in 2025 but made less profit. Net interest income, what it earns on loans minus what it pays savers, rose 14.3% to £37.5m, while profit before tax fell to £7.3m from £9.9m. The report points to higher running costs, a loss at its small-business lender BLX, and a £1.3m charge for possible compensation over past UK car-finance commissions. It expects 2025 to be the peak year for that charge. The previous year was also helped by a one-off gain when its buy-now-pay-later business Payment Assist released money held against bad debts. Cash at the year end was £24.3m, up from £16.2m. The board proposes a total dividend of 0.7796 pence per share, part of it paid only in new shares. Management sees the economy as still a little fragile, with interest rates likely to stay high, and aims to enter Ireland's consumer credit market if granted a licence. The auditor gave a clean opinion and the directors found no doubt about the group's ability to keep going.
From the reportevery line sits on the page it names
What drove revenue
Net interest income from loans and advances to customers
Net interest income increased 14.3% to £37.5m (2024: £32.8m), reflecting balance sheet growth and improved funding mix; net loan book grew 9.5% to £407.9m
page 6
And
Fee and commission income from financial advice, FX trading and brokerage/debt collection
Fee and commission income £4,002k (2024: £3,923k) across independent financial advice, FX trading, brokerage services and debt collection (note 10)
page 74
What moved the margintailwind
Net interest margin expansion
Net interest margin increased to 9.6% (2024: 8.9%) as average cost of retail deposits fell from 5.0% to 4.1% while asset yields were maintained
page 9
Andheadwind
Cost income ratio deterioration
Normalised cost income ratio rose 3.6pp to 68.2% (2024: 65.8%)
page 3
One-offs in the year
£1.3m charge: FCA Discretionary Commission Arrangement provision (legacy UK motor finance commissions, 2007-2024)
page 6
What management said
Net interest income increased by 14.3% to £37.5 million, reflecting both balance sheet growth and an improved funding mix
page 6
After the year end
Note 42 states there were no subsequent events occurring after 31 December 2025, though the Strategic Report separately discloses that Payment Assist's new collections software (announced February 2026) became fully operational in April 2026, and that the Conister Overdraft received regulatory approval in December 2025 with launch anticipated later in 2026
page 9
The dividend
Group policy is to pay an annual dividend equivalent to 10% of profit attributable to shareholders. For 2025 the Board proposed a basic dividend of £639,000 (2024: £810,000), 0.5197 pence per share, plus an additional 5% bonus distribution in shares only, giving a total dividend of 15% of profit attributable (0.7796 pence per share). Shareholders may elect cash or scrip. Payable 20 August 2026 to shareholders on the register at 10 July 2026.
page 6
Going concern and the audit
Directors adopted the going concern basis; no material uncertainties identified over at least 12 months from approval. KPMG Audit LLC issued an unmodified (unqualified) audit opinion dated 15 May 2026. Key audit matters: impairment allowance on wholesale funding loans and advances, impairment allowance on individual finance agreement loans and advances, and recoverability of the Parent Company's subordinated loans to and investment in subsidiaries. Materiality for the Group was set at £395,000 (2024: £370,000), 5% of budgeted PBT. KPMG Audit LLC will resign post-audit and be replaced by KPMG Audit Limited, which has expressed willingness to continue in office.
page 47
The risks it names first
Strategic risk - sub-optimal implementation of strategic plan due to internal/external factorsp.18
Credit risk including counterparty credit risk - borrower/counterparty default affecting arrears, write-offs and capitalp.18
Operational risk - IT resilience, third-party administration, human error, process/control failurep.19
Conduct risk - fair treatment of customers under Consumer Duty/TCF principlesp.20
Read from C000805-AR-2025-website.
FY2018 to FY2022 are on file.
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