Metro Bank has published its quarter one financial statement to 31 March 2015.
Total deposits grew to £3,375 million, up from £2,867 million at the start of the year, representing quarterly growth for Metro Bank of 18%, and represents 109% growth year on year.
Lending increased to £1,830 million, up from £1,596 million at the start of the year, an increase of £234 million or 15% in the quarter, and 91% year on year.
Lending to business customers remains a key priority, with loans to business customers representing almost half (45%) of total lending in Q1.
Total assets were £4,248 million, up from £3,664 million at the start of the quarter; an increase of 16% in the quarter and 74% year on year.
Craig Donaldson, CEO of Metro Bank, said: “We’re delighted that our first quarter results continue to show substantial growth across deposits, lending and customer accounts.
“We remain committed to offering the very best in service and convenience and have invested heavily to give our customers the ability to bank however, whenever and wherever they want. In response, we have continued to see thousands more personal and business customers join the banking revolution every week”
Metro Bank’s loss after tax declined quarter on quarter, with a loss of £8.5 million after tax in Q1. This compares to a loss of £10.6 million after tax in the same quarter last year, a year on year decrease of 20%, and an £8.9 million loss after tax in the final quarter of 2014.
