Metro Bank has announced it has been awarded £120m in funding from BCR Ltd. The funds will be used to help meet the needs of small and medium sized enterprises (SMEs) and inject vibrant competition into the market.
The additional funds will allow the bank to radically transform the UK SME banking experience. Alongside its existing store opening programme, Metro Bank will open new stores in the North by the end of 2025, including cities such as Manchester, Leeds, Sheffield, and Liverpool. The funds will also enable Metro Bank to bring forward initiatives to introduce a range of game-changing digital capabilities to help SMEs thrive.
Craig Donaldson, chief executive officer at Metro Bank said: “Securing this award from BCR Ltd allows us to accelerate our plans to revolutionise banking for SMEs. It will help us bring much needed competition to the underserved SME hotspots in the North, while investing in our digital capabilities and creating new jobs. We already provide tens of thousands of businesses with market-leading service and convenience, and these funds will enable us to introduce new services and products for more SME customers across the country.”