Metro Bank, the revolutionary customer-focused high street bank, today confirms it has raised £387.5 million in a capital raise of common stock, with the share price at a 30% premium on the previous capital raise in June 2012. This fourth capital raise brings the total equity capital raised by the bank to £641 million ($1,050 million). The capital will be used to support the rapid expansion of Metro Bank, including its retail, commercial, and private banking businesses.
Metro Bank, the revolutionary high street bank based in London and the South East, is gearing up for another year of exceptionally strong growth, with more than 500 new jobs to be created in 2014.
Metro Bank, which prides itself on offering customers the very best in service and convenience, was the only bank to be awarded the Gold accolade. It was praised for its family friendly initiatives for customers and colleagues, including the spacious layout of its stores, its Metro Money Zone financial education programme which forms part of its ‘Kids Rock!’ ethos, and its approach to flexible working for colleagues.
Metro Bank continues its rapid expansion with the opening of its 22nd store on Cheapside in the City of London taking place next week. This will be followed by two more stores in Windsor and Edgware before the end of the year, and up to 12 stores to open in 2014. It now has more than 250,000 business and personal customer accounts, and recently announced third quarter results which saw record breaking growth across lending and deposits; year on year increases of 370% and 157% respectively.
Metro Bank, the newest high street bank in more than 100 years, was last night named Wealth Management Innovator of the Year at the prestigious Spear’s Wealth Management Awards 2013. The bank was also nominated in the Private Bank of the Year category.
Metro Bank, the revolutionary high street bank which earlier this month announced record third quarter growth, today announces it has created more than 1,000 career opportunities since its launch.
Metro Bank, the revolution in British banking, today announces its quarter three financial statement, to 30 September 2013
Craig Donaldson, CEO, Metro Bank: “Overall today’s Funding for Lending figures are once again disappointing for the industry. Despite a net lending increase in the quarter, overall lending since June 2012 remains flat, demonstrating a lack of commitment from many of the scheme’s participants to use FLS to boost lending to individuals and SMEs.
Metro Bank Founder and Chairman, Vernon Hill, has been awarded the Gold Stevie® Award in the Chairman of the Year Category at the 2013 International Business Awards (IBAs). The International Business Awards are the world’s premier business awards programme. They were created in 2003 to honour and generate public recognition of the achievements and positive contributions of businesses and working people worldwide. This year’s awards, the 10th annual awards, were judged by more than 250 executives around the world.
Metro Bank has today launched Metro Bank MORE; a new bespoke offers platform designed to bring MORE to customers and local businesses. The platform, which is freely available to all Metro Bank customers, brings specially designed deals to people across London and the South East. Customers are encouraged to select their local store and browse the ever-changing offers in their area. These include money off at local restaurants, dry cleaners, florists, gyms and much MORE. There is also a range of London-wide deals of which all customers can take advantage.
Please contact pressoffice@metrobank.plc.uk or 07815 506845