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 [...]