Metro Bank has launched a strategic review that includes putting itself up for sale, the London-based lender announced after recording its most profitable half-year in its history. The high street bank, which operates 78 branches across the UK, reported pre-tax profits of £61 million for the six months to June 30, a 41 per cent surge from the previous period. The move comes as Metro Bank said it has "successfully completed a substantial transformation" in recent years and now wants to explore options to "accelerate growth" in its next phase.
Metro Bank's board said it believed "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." The bank said it is not currently in active discussions with any potential buyers but is inviting bidders to come forward through advisers Morgan Stanley. If the sale process does not result in a transaction, the lender said it will continue to execute its existing strategy and deliver on previous guidance.
The turnaround comes after years of heavy losses. Metro Bank returned to profit in 2025 with an £87.2 million surplus, compared with losses of £212.1 million in 2024. The lender cut costs by seven per cent over the year and reduced its workforce by more than 1,000 roles as part of a major overhaul that began three years ago. The bank also scrapped its distinctive seven-day-a-week opening hours across branches, a strategy that had been central to its pitch as a challenger to mainstream UK lenders since its launch in 2010.
The transformation was underpinned by a £925 million funding package approved by shareholders. Colombian billionaire Jaime Gilinski Bacal became a majority shareholder with a 53 per cent stake and appointed himself as a non-executive director. Metro Bank has shifted away from mainstream lending to focus on what it described as an "underserved market" as part of its strategic refocus.
For savers and borrowers, the sale could mean changes to Metro Bank's product offerings, terms or branch network depending on who acquires the lender and their strategic priorities.