Metro Bank Share Discussion Threads

[maxk] 20/4/2016 08:36

Metro Bank stems losses to £7.9m in first update since IPO




The 'challenger' bank, which now has £5.9bn in deposits, said it will 'move to profitability'


By Kate Palmer, Business reporter
20 April 2016 • 8:17am




Challenger bank Metro has reported a rise in loans and deposits in its first trading update as a publicly listed company.

Metro Bank, founded by Vernon Hill in 2010, said it was moving towards profit after narrowing losses to £7.9m, from £10.2m in the last quarter and £8.5m in the same period last year. Total deposits hit £5.9bn, while its loan book stands at £4.13bn.

Metro, known for its glitzy branches and quirky offers including free biscuits for dogs, saw revenues increase 60pc to £38m in the first three months of the year compared to the same period of 2015.



More flannel here:

[rarther] 18/3/2016 17:38

As fintech neo-banks like Atom, Mondo, Tandem, Starling and others land on the market over the next couple of years, metro bank is going to find that the customers fleeing the big banks no longer arrive at their borders for refuge. No more free meals.

[mazarin] 07/3/2016 19:35

A rewarding business - for the staff at least. For details see:

[mazarin] 07/3/2016 19:05

And another Challenger Bank officially joins the fray and although is currently loss making, its forecast to enter FTSE 250. Listed for the first time today on the LSE, the lender's quarterly results are expected to show that deposits have increased by 78% to £5.1bn, while total loans have more than doubled to £3.55bn. For details see: