In late 2023, Metro Bank secured a £925 million rescue package following a period of significant financial instability, including a share price collapse and reported deposit outflows. The package comprised £325 million in new capital and the refinancing of £600 million in debt.

Metro Bank's biggest shareholder became Colombian investor Jaime Gilinski Bacal, who contributed £102 million through his Spaldy Investments vehicle, increasing his stake from around 9% to 53%. At the time, Gilinski Bacal said: "I have been an active investor in Metro Bank since 2019. The opportunity to become the bank's major shareholder is driven by my belief in the need for physical and digital banking underpinned by a focus on exceptional customer service."

Metro Bank was founded in 2010 as the first new bank to open a branch in the UK in more than 100 years, positioning itself as a challenger to the established high-street banks with longer opening hours and fee-free accounts.

Following the rescue, Metro Bank announced further cost reductions, including a £30 million annual savings target confirmed in early 2024, alongside around 1,000 job cuts. At the end of 2023, the bank's deposits stood at £15.6 billion.

What's happened since

Metro Bank has since returned to profitability. It reported an £87.2 million pre-tax profit for full-year 2025, a turnaround from a £212.1 million loss the year before, driven by cost reductions and a shift toward corporate, SME, and specialist lending. This was followed by a record first-half 2026 pre-tax profit of £60.7 million, up 41% year-on-year.

Metro Bank sold its residential mortgage book to NatWest in 2024 as part of this strategic shift. As with any change of mortgage administrator, regulations mean the interest rate and loan duration for affected customers stay the same.

Metro Bank has continued to expand its branch network at a time when branch closures have been common across much of the UK banking sector. The bank now operates 78 stores in the UK and has signed new store leases in Newcastle, Leeds, and Nottingham.

Metro Bank – is my money safe?

Metro Bank is regulated in the UK, and customer deposits are protected by the Financial Services Compensation Scheme (FSCS). At the time of the 2023 rescue package, the FSCS limit was £85,000 per person, per authorised institution.

The FSCS limit has since increased. As of December 2025, eligible deposits are protected up to £120,000 per person, per authorised institution. For joint accounts, the limit is £240,000. For full current details, see fscs.org.uk.

Disclaimer: Figures relating to the 2023 rescue package reflect contemporaneous reporting at the time. More recent figures reflect Metro Bank's most recently published results as of 30 June 2026. Please consult Metro Bank's own investor reporting and the FSCS website for the latest information.

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Details correct as of 10 Sep 2026.