View more on these topics

Metro Bank floats on stock exchange


Metro Bank launched on the London Stock Exchange yesterday, achieving a valuation of £1.6bn.

Metro joins five other challenger banks that have listed in London since 2014. There are currently 53 banks listed on the stock exchange, with a combined market capitalisation of close to £672bn.

LSE chief executive Xavier Rolet says: “Welcoming Metro Bank today is a cause for celebration not only for the company, but for the creation of a more diversified funding ladder to support businesses and services across the UK.

“London Stock Exchange is committed to working hand-in-hand with a host of innovative financing partners from challenger banks to crowdfunding platforms to establish a comprehensive funding ladder in the UK. This will allow companies throughout the country to access appropriate growth financing, in turn stimulating job creation and wider economic prosperity.”

Metro chief executive Craig Donaldson says: “Today, we have realised an ambition to float Metro Bank on London Stock Exchange. But this is just the beginning. This listing, and the access to capital it brings, will power the next stage in Metro Bank’s remarkable growth story.

“Our first branch opened just down the road at Holborn less than six years ago. Today we have 40 stores, 700,000 customer accounts, and over £6bn in deposits. We’ve also created 2,000 jobs and have thousands more planned. This city is our home, and it’s an amazing place to start and grow a business.”



Metro Bank plans retention product range

Metro Bank will launch a range of retention products in the coming months. A spokeswoman could not confirm whether proc fees would be paid on the range, although Mortgage Strategy has heard from brokers who say BDMs have told them they will be paid for these cases. The spokeswoman says: “We are looking into launching […]


Metro Bank enters rate war with 2.99% 5-year fix

Metro Bank is the latest to enter the late summer rate war by cutting its range of residential five-year fixed rates by 0.2 per cent. Following the cuts, the challenger bank is now offering a 2.99 per cent five-year fix up to 60 per cent. At 70 per cent LTV, Metro Bank now has a […]

Griffith-Jones-John-FCA-2013 700x450.jpg

FCA staff now accountable under senior managers regime

The FCA has revealed how it will apply the core principles of the senior managers regime, which came into force for the UK’s largest financial institutions yesterday, to its own staff. The regulator had previously pledged to apply the rules, designed to hold high-ranking individuals in financial services organisations to account for misconduct in their […]


AToM adds Bluestone to lender panel

Specialist packager AToM has added Bluestone Mortgages to its panel of lenders. An AToM statement says that the firm sees increasing demand from brokers to place cases that have been rejected by high street lender’s credit score decisioning systems. AToM managing director Dale Jannels says: “It’s therefore good to see new lenders come to market […]


News and expert analysis straight to your inbox

Sign up