Metro Bank profits treble as pivot to lending pays off

(Sharecast News) - Metro Bank more than trebled first half profits as its pivot towards commercial lending paid off. The bank reported an underlying pre-tax profit of £45.1m in the six months to June, compared with £12.8m a year ago.

Metro has shifted its focus from retail banking towards specialist lending to small and medium-sized firms.

Net interest margin - the difference between what a bank charges on loans and pays out on savings - rose to 2.87% from 1.64% in 2024.

Reporting by Frank Prenesti for Sharecast.com