Metro targets further growth after listing

Metro targets further growth after listing



822_2022-06-15-02-36-46pm.gif
Metro Bank is targeting growth following the successful listing of its shares on the main market of the London Stock Exchange.

Metro Bank is targeting growth following the successful listing of its shares on the main market of the London Stock Exchange.

Last week, the challenger bank revealed that investors had committed £400m of new funding in a private capital raising and comes after Metro welcomed over 200,000 new customers in 2015, taking the total number to 700,000.

During the year, Metro also doubled lending to £3.5bn, up 123%, and grew deposits to over £5bn, an increase of 78%.

Craig Donaldson, CEO of Metro Bank, said building a bank from the ground up had given it some great advantages. 

“We have connected with local communities and driven our customer numbers and deposits by placing attractive stores in the right locations,” said Craig.

“We have also been able to create a new bank with the right values, superior service levels and state-of-the art IT infrastructure. 

“The funds we have raised will power the next phase in Metro Bank’s growth across our multi-channel offering.”

Vernon Hill, Chairman and Founder of Metro Bank, added: “The revolution in British banking continues with our listing on the premium London Stock Exchange.  

“Many thanks to our team members, investors and fans.”
 

Leave a comment