Metro Bank

Metro Bank to lend £1bn to businesses




UK businesses have received a major boost after Metro Bank revealed it has ring-fenced £1bn of funds for business and commercial customers.

The challenger bank lent £551m in the first three-quarters of last year to its business and commercial customers and hopes these new funds will increase lending over 2017.

“Businesses are the very bedrock of the UK economy and it’s absolutely vital that lenders do what they can to support their growth,” said Mark Stokes, managing director of commercial banking at Metro Bank.

“Despite the immediate uncertainty following the EU referendum, our customers remain confident about the future and we remain committed to supporting them as they go from strength to strength.”

Ian Walters, managing director of business banking at Metro Bank, felt that its approach to traditional relationship banking supported by state-of-the-art technology allowed it to be a true banking partner for its customers.

“Our commonsense approach to lending has enabled some really great companies to prosper, and we hope that today’s announcement will provide even more customers with the helping hand that they need to grow and succeed in 2017.” 

Welcoming the news, Sophie Gregorios, managing director at Red Lion Leisure, praised the sector specialist relationship manager it had at Metro Bank, who she felt understood Red Lion’s business needs.

“He’s on hand whenever we need him and he takes a real interest in understanding us as a company and areas for growth. 

“Their approach to lending enabled us to purchase a new site and gain planning to build a new 120-bed hotel – a real milestone for Red Lion Leisure."

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