Metro Bank sees lending uptick

Jessica Nangle

July 26, 2017

Metro Bank bbls

Metro Bank saw its overall lending increase by 67% year-on-year increase to £7.8bn in Q2 2017.

The bank’s loan to deposit ratio stood at 79% whilst deposits from customers increased 49%.

Craig Donaldson, chief executive officer at Metro Bank, said: “This has been another great half year for Metro Bank.

“We continue to deliver exceptional service and convenience across every channel to our business and personal customers.”

Underlying profit before tax was £6m and doubled in the quarter from £2m in Q1 2017 to £4m in Q2.

Vernon Hill, chairman and founder at Metro Bank, added: “Almost seven years in and the Metro Bank story just gets better and better.

“The Metro Bank model is revolutionising British banking and 2017 is shaping up to be a fantastic year for us.”

Sign up to our daily email