Metro Bank posts record half-year profit and expansion plans

By the Editorial Team · Wednesday, August 5, 2026

Metro Bank posted a record pre-tax profit of up to £61 million in the first half of 2026, driven by loan growth and the addition of new branches. This marks a significant turnaround since its 2023 rescue and supports the bank’s strategy to expand its branch network and serve small and medium-sized businesses across the UK.

Metro Bank reported record half-year profits for the first six months of 2026, driven by growth in lending and ongoing branch expansion efforts. The FTSE 250-listed lender recorded a pre-tax profit ranging between £60.7 million and £61 million, representing a year-on-year increase of around 34 to 41 percent. Revenue rose about 5 percent to approximately £301 million during the period.

The bank’s net interest income, its primary revenue source, increased by 8 percent to roughly £241.5 million, supported by an improvement in net interest margin from 2.87 percent to 3.18 percent. Metro Bank’s total loan book grew by 4 to 43 percent, with figures varying depending on the measure. Lending to corporate clients, small businesses, and specialist mortgage sectors was a key driver, with targeted lending reaching £6.2 billion in some reports. The lender also opened about 35,000 new personal current accounts and 12,000 new business current accounts in the first half.

Metro Bank continues to pursue its strategy of expanding branch locations, bucking a general trend in the banking industry of branch closures. During the period, the bank signed new leases for branches in northern cities including Leeds, Newcastle, and Nottingham. The chief executive, Dan Frumkin, indicated plans to open five new branches annually, emphasizing their popularity among small and medium-sized business customers.

The bank’s turnaround follows its near-collapse in 2023, when it was rescued by Colombian financier Jaime Gilinski Bacal through a £925 million deal. Since then, Metro Bank has implemented restructuring measures, including significant job cuts. Despite the progress, Frumkin acknowledged the bank is still developing and sees further growth opportunities ahead.

Metro Bank was founded in 2010 by American entrepreneur Vernon Hill. The shares closed slightly lower following the profit announcement, falling by about 4.7 percent to 171¼ pence.

Overall, Metro Bank’s strong performance in the first half of 2026 reflects its focus on specialist lending and commitment to expanding physical branches, positioning it to capitalize on the evolving banking needs of small and medium enterprises across the UK.

This article was reported by synthesizing coverage from multiple independent news outlets to present a balanced, unbiased account. Read about our editorial standards. Spotted an error? Let us know.