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Metro Bank bucks the trend...again!

27th January 2016
  • Customer acquisition increases 208,000, up 46% year-on-year
  • Deposits increase to £5.1 billion, up 78%
  • Total loans grow to £3.5 billion, up 122%

Metro Bank, the revolutionary high street bank, today announces its quarter four, and full year, financial results to 31 December 2015.

Craig Donaldson, Chief Executive, Metro Bank commented; "Metro Bank continues to be the revolution in British banking. The momentum behind us is incredible. We finish the year with record quarterly deposits, record quarterly lending, and over 200,000 new fans."

Highlights for the fourth quarter and full year ended 31 December 2015:

  • Total deposits grew to £5.108 billion, from £2.867 billion at the end of Q4 2014; this represents growth of 78% over 2015, and quarterly growth of 16%.
  • Lending to business and personal customers more than doubled over 2015, reaching £3.549 billion at the end of Q4, up from £1.596 billion at 31 December 2014; an increase of 122% year-on-year.
  • As the bank for entrepreneurs, business customers remain a key focus for Metro Bank. At the end of Q4, deposits from business customers represented 64% of total deposits, and lending to businesses made up 36% of total lending.
  • Total assets were £6.151 billion, up from £3.663 billion at 31 December 2014; an increase of 68% year-on-year.
  • Capital ratios remain strong, with capital as a percentage of risk weighted assets (the standard measure of capital strength) at 13% as of 31 December 2015. The leverage ratio was 7% at the same date.
  • Customers continue to show their support, with customer accounts increasing to c.655,000, which represents year-on-year growth of 46%.
  • The underlying loss after tax in Q4 was £10.1 million, which compares to a loss of £10.7 million in Q3 2015 and marks a return to the trend of declining quarterly losses.
  • Metro Bank has 40 stores open across London and the South East, with up to nine stores to open during 2016 in areas including Kings Road Chelsea, Bexleyheath and Wimbledon.
  • At the end of the fourth quarter, Metro Bank employed more than 2,000 people, 449 of which were appointed in 2015. As the bank continues to grow, it is creating hundreds of jobs for local people, with plans to hire up to 500 new colleagues over the course of the year.