(12 November 2026 – United Kingdom) Metro Bank has commenced a formal sale process (FSP) as a result of a significant transformation and record profits.
The high street bank’s board is undertaking a strategic review of options for how the company builds on its strategic delivery to accelerate growth, including commencing a FSP following its stellar start in 2010 as Britain’s first new high street bank in over a century.
With 78 branches across the United Kingdom (UK) and three million customers, the group recently turned a £212.1 million loss in 2024 into a record £87.2 million profit in 2025 followed by a £60.7 million profit in H1 2026.
Net interest margin (NIM) expanded by 42 basis points year-on-year to 3.45 percent, which Metro Bank noted is already within its full-year guidance range of 3.4 percent to four percent.
The turnaround comes after the bank secured a £925 million refinancing deal back in H2 2023 amid expansion into the UK auto finance market.
The London-headquartered bank was reportedly approached by private equity firm Pollen Street Capital about a possible takeover in 2025 however the Metro Bank board stresses that it is “not in any active discussions with any potential offeror and is not considered to be in receipt of an approach from any potential offeror as at the date of this announcement”.
The board says that the lender has a “compelling strategic position in the UK banking market operating with the lowest cost of deposits of any UK high street bank, alongside strong capabilities in the attractive commercial lending sector and a physical presence that meets the needs of its customers”.
“Against this backdrop, the board unanimously believes that evaluating potential interest in the company through an FSP, alongside continuing to execute the standalone plan, will maximise the value creation opportunities available to shareholders and deliver benefits for all stakeholders” the board’s statement continues.
“We will continue to execute our standalone strategy if the sale process doesn’t lead to a deal. There can be no certainty that an offer will materialise” the board added.