Metro Bank's Q1 2024 total deposits increased 4% to £16.2bn after a customer-winning campaign, while total lending fell 9% to £11.8bn.
Metro Bank posted a 4% increase in total deposits for Q1 2024, reaching £16.2bn, following a campaign launched in Q4 2023 to win back customers after a funding crisis. Total lending fell 9% to £11.8bn as the bank shifted focus to more profitable specialist mortgages and commercial loans. The bank secured a £925m rescue funding deal with shareholders in October, and has implemented cost-cutting measures to restore balance.
April 30, 2024
6 Articles