Metro Bank is looking to the future with optimism, after increasing its customer base by half in just six months to over 200,000.
And with a new current account switching system due in September that will make it easier for customers to move to a new bank, Metro could soon be building on this momentum (read more).
Metro commemorated its three-year anniversary this week, having become the first bank to join the UK high street for more than in century back in 2010.
The bank's network of 19 branches, located in Greater London and surrounding counties, is growing steadily, with five more set to open this year. The bank plans to have 200 branches running by 2020.
Metro Bank celebrated its third anniversary in the UK by reaching 200,000 customers.
Its customer-based ethos has caught the crest of a wave, following the mass of banking scandals.
The bank has endeared itself to a public that has grown increasingly disillusioned with banking by opening on evenings and weekends, by welcoming families and pets into branches, and by offering useful services such as coin-counting machines and fast-print debit cards.
Craig Donaldson, Metro Bank’s chief executive, said: "The British people have demanded a revolution in banking, including a focus on service, the end of stupid bank rules and ultimate convenience.
"Given the strong start we've had in 2013, we’re on track to have a record breaking second half of the year and look forward to bringing the best in customer service to thousands more people and businesses."
The bank's activity is building at pace with its swelling customer base. Lending has more than doubled since the start of 2013, to £366 million, while deposits, through current accounts and savings accounts, have now exceeded £870 million.
But the bank is still dealing with losses, despite the growth in its retail operations. The bank posted an first-half operating loss of £19.4 million, which follows an annual net loss of £34.6 million at the end of 2012.
Are you a Metro Bank customer? Are they delivering a 'revolution'? Would you recommend the experience to others? Let us know by leaving a comment below!
Keith McDonald
Which4U Editor
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