Resurgent Metro Bank plans 11 more northern branches

Metro Bank plans to open more branches across the UK, after slashing its yearly losses. The British lender aims to open 11 more branches in northern England by the end of 2025, expanding its current network of 76 locations. It follows reports that Metro Bank narrowed its pre-tax losses from £245.1m to £70.7m last year after tightening cost controls.

These included simplifying its IT processes, revamping its online and mobile app, and closing three branches in Milton Keynes, Windsor and London during 2022.

The lender also enjoyed a boost from rising interest rates, which increased the cost of borrowing. The turnaround comes after Metro Bank suffered heavy losses during the pandemic.