Metro Bank lending more than doubles.

April 20, 2016

Shares in Metro Bank edged higher early today, the Bristish lender which listed on the  London Stock Exchange in March and opened the  first branch of Metro Bank in Holborn in central London, revealed its first quarter loss narrowed on the back of solid growth in commercial lending and residential mortgages.

Metro Bank said its statutory loss, which includes the costs associated with its initial public offering, was 11.1 million pounds.

The company said net lending more than doubled to £4.1bn, while its total deposits surged 75% year-on-year to £5.9m.

Group chairman and founder Vernon Hill reportedly said “We continue to create a banking revolution by building Metro Bank into a major banking force in the UK.

“Our constant focus on customer service and convenience across all our channels  continues to differentiate us, and provide a compelling competitive advantage in the UK market.”

 

 

 

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

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