Metro Bank launches a formal sale process after its most profitable half-year

Metro Bank has launched a strategic review that includes a formal sale process, inviting interest in the whole company, with Morgan Stanley advising. The board backs the review unanimously, and the bank says it has received no approaches and is not in talks with any potential bidder.

The London-listed lender operates 78 branches and since 2023 has moved from mainstream lending towards higher-margin commercial and specialist loans. In the six months to June, its most profitable half on record, pre-tax profit rose 41% to £60.7 million and its core target lending book grew 43% to £6.2 billion.

Metro targets a return on tangible equity above 13% in the fourth quarter of 2026, above 15% in 2027 and 18% in 2028. Under the process, interested buyers can talk confidentially and the usual 28-day deadline for a firm offer does not apply.