Metro Bank is the latest challenger bank to eye London float April 19, 2015 The battle between the "big four" high street lenders and the challengers banks just ratcheted up a notch. New kid on the block Metro Bank is eyeing a £1bn initial public offering on the London stockmarket next year, according to the Telegraph. This comes just five years after it emerged to shake-up Britain's banking landscape. [...]
George Osborne finds magic money machine at Metro Bank April 8, 2015 George Osborne may have solved the British government’s huge annual deficit problem. He’s found a magic money machine! The chancellor was in Kingston yesterday, visiting a branch of Metro Bank in order to hail news that the challenger bank will employ 3,300 new staff, and aim to have a total of 150 branches by 2020. [...]
St James’s Place share price rises as it announces Metro Bank tie-up February 25, 2015 Another sign of how seriously the financial establishment is taking challenger banks? Wealth manager St James's Place has announced a tie-up with Metro Bank, the quirky high street banking chain best known for offering free dog biscuits in its branches. The two will offer a money management account which is "fully branded St James's Place, [...]
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 [...]