Metro Bank opens more branches and passes £2bn lending mark
Metro Bank has reported its second quarter trading figures to the 30 June 2015, announcing a year-on-year increase of 90% pushing its total loans to £2,201 million. Over the same period, total deposits increased to £3,791 million, a year-on-year growth of 94%.
The number of customer’s opening accounts also experienced record single quarter growth to 30 June 2015, increasing by 49,000 to reach 544,000; a rise of 10% on the first quarter and 51% year-on-year.
Craig Donaldson, chief executive officer at Metro Bank, commented: “Our second quarter results show record growth in lending, with total loans surpassing the £2 billion mark.
“We’re particularly proud to report that a significant amount of our lending goes towards supporting local businesses, while our mortgage lending has experienced significant demand.”
The bank continued to invest in its store network over the quarter, with new branches opening in Tunbridge Wells and Harrow, taking the total number of stores to 36.
The loss after tax has declined for the eighth successive quarter to £8 million, compared to a loss of £8.5 million during the previous quarter, representing a quarterly decrease of 6%, and year-on-year decrease of 19%
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