Metro Bank grows 118% in 2014
Metro Bank has announced that its total deposits grew to £2,867 million from £1,315 million at the end of Q4 2013. This represents growth of 118% over 2014, and quarterly growth of 22%.
The challenger bank has 31 branches across London and the South East, with up to ten due to open during 2015 in areas including Brighton, Cambridge, Southend and Harrow.
The lender cut its losses in Q4 for the sixth consecutive quarter to £8.9 million, and it is getting closer to making a profit.
Craig Donaldson, Chief Executive, Metro Bank commented: “Throughout the year we saw substantial growth in deposits and lending, and the number of personal and business customers joining the banking revolution has continued to increase.”
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