Metro Bank profits jump as growing branch network brings ‘competitive advantage’
Some 35,000 new personal current accounts and 12,000 new business current accounts were opened during the first half of the year
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Summary
Some 35,000 new personal current accounts and 12,000 new business current accounts were opened during the first half of the year. The group shifted its strategy to focus more on lending to “underserved market” as part of a major turnaround since 2023. The banking group reported a pre-tax profit of £61 million for the first half of 2026, up 41% compared with the same period last year.
Furthermore, High street banks HSBC, Santander and NatWest have recently made commitments not to close any branches until 2027, 2028 and 2029 respectively, although they have all already trimmed their networks significantly. Metro Bank said lending grew by 43% year-on-year to £6.2 billion for target areas within corporate, small businesses and specialist mortgages. Specialist mortgage lending alone jumped by 73% year-on-year to £2.2 billion.
In addition, Metro Bank has 78 UK branches, which it calls “stores”, and said the network was a key element of its service and “relationship-based” approach to banking. Metro Bank’s chief executive Daniel Frumkin said its approach was a “competitive advantage” in the industry. “Our relationship banking model is delivering a clear competitive advantage,” he said. “We continue to invest in growth, signing three new store leases to bring Metro Bank to new communities, and adding new products and services in response to customer demand.”.
Cross-referenced from 3 sources.
Factual coreconfirmed by several independent voices
Some 35,000 new personal current accounts and 12,000 new business current accounts were opened during the first half of the year.
reliability low1/2 sourcesThe group shifted its strategy to focus more on lending to “underserved market” as part of a major turnaround since 2023.
reliability low1/2 sourcesThe banking group reported a pre-tax profit of £61 million for the first half of 2026, up 41% compared with the same period last year.
reliability low1/2 sourcesHigh street banks HSBC, Santander and NatWest have recently made commitments not to close any branches until 2027, 2028 and 2029 respectively, although they have all already trimmed their networks significantly.
reliability low1/2 sourcesMetro Bank said lending grew by 43% year-on-year to £6.2 billion for target areas within corporate, small businesses and specialist mortgages.
reliability low1/2 sourcesSpecialist mortgage lending alone jumped by 73% year-on-year to £2.2 billion.
reliability low1/2 sourcesMetro Bank has 78 UK branches, which it calls “stores”, and said the network was a key element of its service and “relationship-based” approach to banking.
reliability low1/2 sourcesMetro Bank’s chief executive Daniel Frumkin said its approach was a “competitive advantage” in the industry. “Our relationship banking model is delivering a clear competitive advantage,” he said. “We continue to invest in growth, signing three new store leases to bring Metro Bank to new communities, and adding new products and services in response to customer demand.”
reliability low1/2 sources
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