Metro Bank on the verge of making a profit

by Aaron Strutt

Jul 22 2014

Metro Bank should be profitable within the next year, according to their chief executive Craig Donaldson.

The challenger bank reportedly lost £9.8 million in the second quarter of the year and it has announced the losses were due to heavy spending on their new banks. 

Metro Bank currently has 37 banks and is setting up another six, typically around London and the south-east.

Aaron Strutt, product manager at Trinity Financial, says: “We have access to Metro’s mortgages and they are often very competitively priced. They also tend to have more lenient acceptance criteria if applicants can prove they are in a strong position to repay the mortgage.”