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'Superb start to the year' as Metro Bank nears 1m customers mark

Metro Bank is inching closer to the one million customers mark as profits and deposits continue to rise at the challenger bank.

The lender - which launched in 2010 - signed up 72,000 people in the first quarter to take its total to 987,000.

Chief executive Craig Donaldson has said reaching the one million mark would make it a "proper player" in the banking sector.

The bank added that it saw a 13% increase in deposit growth to £9 billion quarter on quarter, while underlying pre-tax profits rose from £1.5 million to £2 million.

Metro Bank said it is confident about delivering a full year of profitability in 2017, and achieving its 2020 guidance.

Mr Donaldson wants to expand Metro Bank's branch network to 100 by 2020, creating 2,500 extra jobs and doubling the staff roster in the process.

Chairman and founder Vernon Hill said of the results: "What a superb start to the year for Metro Bank.

"Our combination of great online and mobile banking and an exceptional in-store experience is making a positive difference to our customers.

"Metro Bank remains a revolution in British banking, championing the right of every customer to receive service and convenience tailored to their needs."

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