UK challenger bank Metro Bank has reported that its loan book has reached £2,999m (4,169m) in the third quarter of 2015.
According to Metro Bank, more than a third (36%) of total loans were provided to commercial customers.
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The £2,999m figure was £798 million (36%) higher compared to the previous quarter and 116% higher year-on-year.
Craig Donaldson, chief executive officer at Metro Bank said: "During the last quarter we’ve seen accelerated growth on a number of fronts, including lending, deposits and customer acquisition as more customers join the banking revolution. Lending was particularly strong – reaching a record quarterly increase of 36% and 116% year-on-year as we continue to support personal and business customers."
Vernon Hill, founder and chairman at Metro Bank said: "As we enter our sixth year, I’m delighted that we’re continuing to grow at an ever impressive rate. UK banking customers have long been crying out for a better service and we’re here to provide it. We truly value our customers and they know that, and it’s why we’ve opened a record number of accounts during the last quarter. In turn, their support has enabled us to take the revolution wider – achieving record growth in the last three months."
During the quarter, Metro Bank expanded its senior team, welcoming Sir Michael Snyder as non-executive director and appointing two new additions to its leadership team. Ian Walters joined as managing director of commercial banking and Iain Kirkpatrick joined as managing director of regional banking. Snyder’s appointment is subject to regulatory approval.
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By GlobalDataEarlier this year, the challenger bank appointed Nathan Mollett to the new role of head of asset finance distribution.
