A major high street bank has announced it has put itself up for sale as it launches a strategic review with the aim of increasing growth.
Metro Bank, which has 78 branches across the UK, said the move followed a successful ‘substantial transformation’ of the business.
The group recently recorded its most profitable six months until June this year, when it reported pre-tax profits of £61 million.
This came after a major restructuring saw the firm cut 1,000 roles and axe seven-day a week opening for its branches in an end to one of its flagship policies.
While the bank has said it is not in active discussions with any buyers, it has invited interested bidders to contact advisers Morgan Stanley.
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Metro Bank was originally launched to challenge existing British high street players and has since grown to serve nearly three million customers nationwide.
It is currently majority-owned by Colombian billionaire Jaime Gilinski Bacal, who owns a 53 per cent stake in the company.
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.
‘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.
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