Metro awarded £120 million in funding from BCR Ltd

RNS Number : 8444Q

Metro Bank PLC

22 February 2019

 

22 February 2019

METRO BANK PLC

Legal Entity Identifier: 213800X5WU57YL9GPK89

METRO AWARDED £120 MILLION IN FUNDING FROM BCR LTD

Metro Bank, the revolution in British banking, today announces it has been awarded £120 million in funding from BCR Ltd. The funds will be used to help meet the needs of small and medium sized enterprises (SMEs) and inject vibrant competition into the market.

The additional funds will allow the bank to radically transform the UK SME banking experience. Alongside its existing store opening programme, Metro Bank will open new stores in the North by the end of 2025, including cities such as Manchester, Leeds, Sheffield, and Liverpool. The funds will also enable Metro Bank to bring forward initiatives to introduce a range of game-changing digital capabilities to help SMEs thrive.  

Craig Donaldson, Chief Executive Officer at Metro Bank said: "Securing this award from BCR Ltd allows us to accelerate our plans to revolutionise banking for SMEs. It will help us bring much needed competition to the underserved SME hotspots in the North, while investing in our digital capabilities and creating new jobs. We already provide tens of thousands of businesses with market-leading service and convenience, and these funds will enable us to introduce new services and products for more SME customers across the country."

ENDS

For more information, please contact:

Metro Bank PLC Investor Relations

Jo Roberts

[phone]

[e-mail]

Teneo

Anthony Silverman / Charles Armitstead

[phone]

[e-mail]

Metro Bank PLC Media Relations

Tina Coates

[phone]

[e-mail] 

About Metro Bank

Metro Bank is the revolution in British banking. It is celebrated for its exceptional customer experience and achieved the top spot in the Competition and Market Authority's Service Quality Survey among personal current account holders for its overall service and came second among business current account holders in February 2019. It was also awarded 'Best All Round Personal Finance Provider' at the Moneynet Personal Finance Awards 2019, as well as 'Most Trusted Financial Provider' at the Moneywise Customer Service Awards in 2016 and 2017 and 'Best Financial Provider' at the Evening Standard Business Awards 2017. It is recognised by Glassdoor in its 'Best Place to Work UK 2019' top 50 list.

Offering retail, business, commercial and private banking services, it prides itself on using technology to give customers the choice to bank however, whenever and wherever they choose. Whether that's through its growing network of stores open seven days a week, from early in the morning to late at night, 362 days a year;  on the phone through its UK-based 24/7 contact centres manned by people not machines; or online through its internet banking or award-winning mobile app: the bank offers customers real choice.

The bank employs around 3,900 colleagues and is headquartered in Holborn, London. 

Metro Bank PLC. Registered in England and Wales. Company number: 6419578. Registered office: One Southampton Row, London, WC1B 5HA. 'Metrobank' is the registered trade mark of Metro Bank PLC.

It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. Most relevant deposits are protected by the Financial Services Compensation Scheme. For further information about the Scheme refer to the FSCS website www.fscs.org.uk.

All Metro Bank products are subject to status and approval.

Metro Bank PLC is an independent UK bank - it is not affiliated with any other bank or organisation (including the METRO newspaper or its publishers) anywhere in the world. Please refer to Metro Bank using the full name.

 

END

 

 

MSCLIFERFLIFFIA