Irish Permanent International has announced is to close its business in the Isle of Man by the end of the year.
The bank, based in Ridgeway Street in Douglas, says its parent company in Ireland will focus on the domestic market and shut its offshore arm.
Irish Permanent employs 14 full-time staff on the Island.
Economic Development Minister Allan Bell says he doesn’t think the closure will affect business confidence, but admits the announcement came as a surprise.
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