Exclusive: Early Metro Bank investor Jamie Reuben resigns role as director February 4, 2015 Metro Bank director Jamie Reuben has left his role at the bank, following fellow early-stage investor Luke Johnson out of the high street lender. He is a director at family firm Reuben Brothers, which bought a stake in the challenger bank in April 2010. Reuben was appointed as a non-executive at the lender in October [...]
Metro Bank trims losses as loans and deposits double over 2014 January 21, 2015 Challenger bank Metro cut its losses to £8.9m in the final quarter of 2014 as it edges towards profitability, its financial results showed yesterday. That compares with £9.4m in the previous three-month period. The bank hopes to break even later this year, and is looking to float on the stock market in 2016. Metro said [...]
Luke Johnson steps down from Metro Bank board October 23, 2014 Serial entrepreneur Luke Johnson has resigned his position as a non-executive of Metro Bank. Johnson told Sky News that the time commitments now required for the role were becoming too great for him to maintain his position at Britain's first new high street bank for over 100 years. He joined Metro Bank in 2011. Johnson made [...]
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 [...]