Metro Bank sees dramatic year on year increases in lending and deposits, as customers flock to the revolutionary high street bank
Metro Bank Chairman, Vernon Hill, was last night awarded the prestigious Free Enterprise Award from the Institute of Economic Affairs (IEA). Presented by Lord Norman Lamont, previous Chancellor of the Exchequer, Hill received the award at an exclusive ceremony hosted at Metro Bank in Holborn.
Metro Bank, the first new High Street bank in more than 100 years, is proud to announce the inclusion of its Head of Private Banking, Kirsty MacArthur (33), on the 2013 Private Asset Managers (PAM) Top 40 under 40 list.
The Chancellor promised a Budget 'for people who aspire to work hard and get on’, and this was certainly a budget that was aimed at boosting employment. In particular we welcome announced cuts to the employer National Insurance contributions. As a fast growing company, Metro Bank understands that growth is a major priority of most businesses. In just three years we’ll have created over 1,000 new jobs, and recognise that the cost of hiring people can be a major barrier to growth for many companies. Anything that can alleviate this must be welcomed with open arms.
Craig Donaldson, Chief Executive of Metro Bank comments on today’s Funding for Lending figures: “The Funding for Lending Scheme was introduced to help stimulate our economy through increasing lending to individuals and small businesses. Today’s figures show that there’s certainly more work to be done with some of the market players, but Metro Bank is a great example of how the scheme is working and we’re very proud of that.
As Founder and Vice Chairman, Vernon Hill has been instrumental through Metro Bank’s successful launch and the subsequent explosive growth of the UK’s most customer focused high street Bank. Metro Bank launched in July 2010, and currently has 15 stores open in London and the South East.
Metro Bank has been announced as a primary banking partner for the Government backed GrowthAccelerator initiative. In a speech today, Business Secretary Vince Cable announced that Metro Bank will support up to £100 million in lending for applicable growing small and medium sized enterprises.
The Metro Bank board will appoint a new Chairman by January 2013. Now beginning its third year, Metro Bank is growing rapidly in both consumer and business banking. Metro Bank has successfully completed three rounds of external funding; the most recent in June raised additional capital of £126 million to fuel expansion to 200 stores by 2020. Metro Bank’s growth plans include a public listing in 2014.
Metro Bank, Britain's revolutionary UK retail and commercial bank, has appointed Jason Oakley as Managing Director of Commercial Banking. Jason will be responsible for growing Metro Bank as a trusted adviser and lender to Greater London’s small and medium-sized companies. He will report into Chief Executive Craig Donaldson.
Metro Bank delivers a return to service, not sales. It’s time to put customers back at the heart of banking; a customer should feel valued every time they interact with their bank, whether they call them up, go online or walk through the door. The fact that we’re growing so quickly can attest to the fact that customers are looking for credible banking alternatives. It truly is time for a banking revolution.