Metro Bank closer to profit as lending levels more than double October 22, 2014 Challenger bank Metro lost £9.4m in the third quarter, improving on the £11.4m loss in the same period of 2013. The lender, which has been nominated for a City A.M. award this year, saw its deposits jump 118 per cent on the year to £2.34bn. At the same time, its loan book increased by 146 [...]
Metro Bank on verge of making its first profits July 23, 2014 METRO Bank should be profitable within the next year, chief executive Craig Donaldson said yesterday, as the bank unveiled its latest set of losses. The challenger bank lost £9.8m in the second quarter of the year, an improvement on the £10.6m loss in the previous three-month period. It has defended its losses by arguing that [...]
Metro Bank’s Vernon Hill slams failed banking system at London liberty conference June 18, 2014 Founder of Metro Bank Vernon Hill has criticised the UK's banking sector for failing consumers and lacking innovation at a conference held by the Centre for Policy Studies (CPS). Speaking In London's Guild Hall, Hill told a packed audience that the current banking system had failed society and was taking customers for granted. The boss [...]
Metro Bank sees jump in commercial lending May 1, 2014 Metro Bank has reported a surge in commercial loans to £960m, a year-on-year increase of 298 per cent and a rise of 27 per cent in the quarter to 31 March. The insurgent bank established in 2010 also saw deposits rise to £1.6bn, a 131 per cent increase from the previous year. Britain's first new [...]
Metro founder launches online lender Atom April 9, 2014 METRO Bank co-founder Anthony Thomson is applying for a licence for an online-only bank Atom, and hopes to launch the lender next year. He wants to target customers who use banking apps on mobiles and tablets, rather than setting up a branch network to compete with Metro’s high street presence. “The big banks might be [...]
Atom Bank shows how Metro changed the industry April 9, 2014 When Metro Bank launched in 2010 it was a shock. Not just to the eye, with its bold, bright colours, but to the high street, its competitors – and the regulator. It was the first time a new bank had been given a licence in more than 100 years and the authorities were not prepared. [...]
Metro Bank: First London – next, the rest of the UK February 23, 2014 Metro Bank’s chairman and founder tells Tim Wallace he wants to take the Southern-focused lender out to a national audience IT HAS shaken up London’s retail banking scene, with bright new branches on busy high streets, and a bold American-style service ethos. But although Metro Bank startled the market as Britain’s first lender in more [...]
Metro Bank in running for PwC bank contract February 18, 2014 METRO Bank, RBS and Santander are understood to be among the banks bidding for PwC’s business, as the professional services firm shakes up its finance relationships. The changes come as PwC takes on HSBC as an audit client, and so can no longer bank with the firm. PwC also audits Barclays and Lloyds, narrowing the field in [...]
Metro Bank cuts losses as it plots stock flotation January 23, 2014 METRO Bank reported growing loans and falling losses in the final quarter of 2013, as the new lender begins looking to float on the stock market. The bank, which was established in 2010, lost £10.8m in the three-month period, it revealed yesterday. The losses are down from a loss of £11.5m in the previous quarter. [...]
Metro blames IT for banks’ lack of competition January 20, 2014 BRITAIN’S banking sector cannot be broken open by challengers because the country lacks the vibrant IT sector needed to support new lenders, Metro Bank chairman Vernon Hill told City A.M. yesterday. Hill founded the first new bank in the UK in over a century in 2010, but argues it is a much easier process in [...]