Metro Bank see loan increase of 146%

The bank saw lending increase to £1,389 million, up from £1,157 million at the start of the quarter, an increase of 146% year on year. Of these, loans to business customers represented almost half of this lending.

The growth in lending, which includes secured and unsecured residential and business loans, represented a 20% rise compared to lending in quarter two which reached £1,157m.

Total assets for the bank were £3,198 million, up from £2,821 million at the start of the quarter; an increase of 13% in the quarter and 140% year on year.

Craig Donaldson, Chief Executive, Metro Bank commented:

“We’re extremely proud of another quarter of strong growth in lending, deposits and customer numbers. As we enter the final quarter of 2014, we thank our personal and business customers for their ongoing support, and we look forward to bringing our customer focused proposition to more communities across London and the South East. The British people need a bank that puts their needs first and offers the best in service and convenience; they need choice on the high street, and we are here to provide that choice.”