Metro Bank breaks records in Q3

The challenger bank has notched up three separate records during its third quarter.

Metro Bank said total deposits hit £4.39bn between July and September, a record quarterly increase of 16%.

Total loans grew to £2.99bn, a record quarterly rise of 36%, and total customer accounts surpasses 601,000, a record quarterly increase of 57,000.

Craig Donaldson, Chief Executive Officer of Metro Bank, said the last quarter had seen accelerated growth on a number of fronts, particularly lending.

“More customers join the banking revolution,” said Craig.

“Lending was particularly strong – reaching a record quarterly increase of 36% and 116% year-on-year - as we continue to support personal and business customers.” 

Vernon Hill, Founder and Chairman of Metro Bank, said even after six years, he was delighted that the bank was growing at an impressive rate.

“UK banking customers have long been crying out for a better service and we’re here to provide it,” said Vernon.

“We truly value our customers and they know that, and it’s why we’ve opened a record number of accounts during the last quarter.

“In turn, their support has enabled us to take the revolution wider – achieving record growth in the last three months.”