Deposits down at Metro Bank in last quarter

Deposits with Metro Bank, which has sites in Brierley Hill and Wolverhampton, fell in the three months to the end of September from the previous quarter.

The Metro Bank at Brierley Hill
The Metro Bank at Brierley Hill

They were down one per cent from £16.6 billion to £16.4bn but up five per cent on a year ago when the figure was £15.6bn.

Assets were up three pre cent on the year to£22.7bn with loans down 18 per cent to £12.3bn

The bank has seen growth in current account and instant access balances.

Chief executive Daniel Frumkin said: "The bank has continued to deliver against its strategic priorities during the quarter. We have seen improvements in our lending mix from our expanded product offering. We are seeing signs of a gradual return to normality and have adopted a hybrid way of working for office-based colleagues. We remain focused on executing on our plans and returning the bank to sustainable profitable growth."

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