Metro Bank PLC

Great Britain

www.metrobankonline.co.uk

2010

Metro Bank PLC was granted its licence by the Financial Services Authority on March 5, 2010, it was the first high-street bank to be granted such a licence for over 150 years. Its first branch was opened on July 29, 2010 in Holborn, followed by Earl’s Court (Cromwell Road) on September 3, 2010. Metro Bank opened its 32nd branch on January 30, 2015, in Cambridge. Metro Bank increased its account holders by 50% in the first half of 2013 for a total of 200,000 customer accounts, including 15,000 business accounts. The bank has 25 branches opened in 2013 in the UK and aims to open 200 UK branches by 2020. In 2012, Metro Bank raised an additional $200 million in funding from investors including Fidelity, Steven A. Cohen of hedge fund SAC Capital Advisors, and New York real estate investors the LeFraks and David and Simon Reubens. The bank had 850 employees in London by July 2013 and forecasted more than 1,000 London-based employees by the end of 2013. The bank plans to open between 200 and 250 branches in Greater London within 10 years of starting up. Metro Bank acquired SME Finance in August 2013 and rebranded the business as Metro Bank SME Finance in May 2014.

850

High