Metro Bank ready to launch
by Gill Montia
Story link: Metro Bank ready to launch
London is the launch pad for Metro Bank, which has now secured a banking licence from the Financial Services Authority.
The new venture hopes to get ahead of the competition with opening hours that extend from 8am to 8pm on weekdays and 10am to 4pm at weekends.
The first branches will be unveiled in Holborn and South Kensington in the Spring, offering full retail banking services to businesses and individuals.
Founded by Anthony Thomson (currently chairman of the Financial Services Forum) and Vernon Hill, who set up Commerce Bancorp in the US, the bank intends to open more than 200 branches in the Greater London area in the next decade.
According to Mr Hill: “At Metro Bank the customer is king and our goal is to reinvent British banking by building fans not customers.”
Dog owners will appreciate the sentiment as water bowls will be made available on the premises, while humans will be offered comfort in the form of customer toilets.
In November, the Government said it hoped to see new High Street banks set up by relatively recent entrants to the UK financial sector, over the next five years.