Metro Bank half-year report profits of £45m, revenue up 22%
Several firms to get through this morning with their financials being reported, starting with Metro Bank.
The lender has reported half-year profits of £45m with two particular boosts: revenues up 22 per cent compared to the same period last year, and operating costs down 8 per cent.
Daniel Frumkin, Chief Executive Officer at Metro Bank, said:
“Metro Bank’s strong performance in the first half of the year reflects the successful execution of our strategy and decisive actions we have taken. We trebled profits, doubled new lending to corporate, commercial and SME customers, meaningfully reduced operating costs and optimised funding to have the lowest cost of deposits of any UK high street bank.
“As we celebrate our 15-year anniversary, our unique relationship-led model, specialist lending expertise and expanding store network allows us to support customers, communities and…
