Metro Bank, a high street bank with nearly three million customers, has announced it is putting itself up for sale as part of a strategic review aimed at boosting growth.
The bank, which operates 78 branches across the UK, said the decision followed a successful 'substantial transformation' of its business. It recently posted its most profitable six months in the period up to June this year, with pre-tax profits of £61 million.
Restructuring and Recovery
The turnaround followed a major restructuring in which the firm cut 1,000 roles and ended seven-day-a-week branch opening, scrapping one of its flagship policies.
Metro Bank has said it is not in active discussions with any buyers, but it has invited interested bidders to contact advisers Morgan Stanley.
Ownership and Financial Performance
The bank was originally launched to challenge existing British high street players and has grown to serve nearly three million customers nationwide. It is currently majority-owned by Colombian billionaire Jaime Gilinski Bacal, who holds a 53 per cent stake.
After posting losses of £212.1 million in 2024, the bank returned to surplus in 2025.
'The significant progress made by Metro Bank means it is now well-positioned to consider a broader range of strategic opportunities for its next phase of growth', the bank said in a statement.
Strategic Options and Analyst Views
'Against this backdrop, the board unanimously believes that evaluating potential interest in the company through a formal sale process, alongside continuing to execute the standalone plan, will maximise the value creation opportunities available to shareholders and deliver benefits for all stakeholders.'
Banking analyst Gary Greenwood at Shore Capital said the move came after a 'remarkable recovery' following a bail out by Gilinski Bacal in 2023. He said the 'cleanest' outcome to the process would be an 'all-cash sale to private equity', which would allow the Colombian backer to leave his controlling position.
'A specialist-bank combination could offer strategic logic but would likely require paper consideration, while a larger bank may be reluctant to pay up for Metro Bank's expensive branch network', he added.
