September 21, 2017 7:15 AM ET

Banks

Company Overview of Metro Bank PLC

Company Overview

Metro Bank PLC, together with its subsidiaries, provides retail and corporate banking services in the United Kingdom. The company offers personal banking products and services, including current and savings accounts; residential mortgages; credit cards and personal loans; and safe deposit box services. It also provides business banking products and services comprising deposit accounts, including business instant access, fixed term, client monies, and business tracker notice accounts; commercial loans, working capital, business credit cards, asset financing, invoice financing, and portfolio buy-to-let; business credit cards, cash management services; and partnership banking services. As of Ja...

One Southampton Row

London,  WC1B 5HA

United Kingdom

Founded in 2007

2,800 Employees

Key Executives for Metro Bank PLC

Chief Executive Officer, Executive Director and Member of Advisory Board
Age: 45
Total Annual Compensation: 1.2M GBP
Chief Financial Officer, Company Secretary and Executive Director
Age: 58
Total Annual Compensation: 612.5K GBP
Compensation as of Fiscal Year 2016.

Metro Bank PLC Key Developments

Metro Bank to Open New Branch

Metro Bank has said that it would open a new branch in Ilford. The bank is to open its 49th branch in Ilford later this month. The launch is expected to create about 25 new jobs and would also provide a range of banking services to Ilford residents.

Metro Bank Hires Martyn Atkinson as Chief Information Officer, Effective 4 September, 2017

Metro Bank has said that it has hired a new CIO. Martyn Atkinson has been hired by the bank as chief information officer. He is currently director of digital and change at the bank and is to take up his new position on 4 September, 2017. As CIO, he will be responsible for IT strategy and architecture, IT development, support and operations, operational resilience and risk management.

Metro Bank PLC Announces Group Earnings Results for the Second Quarter and Six Months Ended June 30, 2017

Metro Bank PLC announced group earnings results for the second quarter and six months ended June 30, 2017. For the quarter, the company's total revenue was £69.2 million compared with £46.3 million a year ago. Underlying profit before tax was £4.0 million compared with loss of £3.4 million a year ago. Underlying profit after tax was £2.96 million or 3.6 pence per diluted share compared with loss of £4.1 million or 0.05 pence per diluted share a year ago. Statutory profit after tax was £2.0 million compared with loss of £5.92 million a year ago. For the six months, the company's total revenue was £131.1 million compared with £84.1 million a year ago. Underlying profit before tax was £6.0 million compared with loss of £13.0 million a year ago. Underlying profit after tax was £4.45 million compared with loss of £12.1 million a year ago. Statutory profit after tax was £3.1 million or 3.8 pence per diluted share compared with loss of £16.97 million or 24.0 pence per diluted share a year ago. Statutory profit before tax was £4.4 million compared with loss of £18.1 million a year ago. Total operating income was £131.1 million compared with £84.1 million a year ago. Net cash inflows from operating activities was £1,170.1 million compared with £707.7 million a year ago. Purchase of property, plant and equipment was £41.8 million compared with £35.1 million a year ago. Purchase and development of intangible assets was £31.3 million compared with £15.5 million a year ago.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
June 2, 2017
Cerberus European Residential Holdings B.V., Portfolio of UK Mortgages
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