Following record levels of customer demand, Metro Bank, the bank for entrepreneurs, has today revealed that it is boosting its number of business bankers on the high street by 30% over 2017, as it continues to invest in its business services.
Ian Walters, Managing Director Business Banking at Metro Bank explained the decision to expand the team: “For years now, businesses have been underserved by banks and over time this has chipped away at their relationship, exacerbated by unremitting cost-cutting measures. There’s enough obstacles to overcome as a business-owner, your bank shouldn’t be one of them.
“At Metro Bank, we’re committed to investing in supporting local businesses and giving them the flexibility and help they need to develop. Our new Local Business Managers will provide a welcoming presence on the high street, and will be there to assist businesses at every stage of their development.”
The bank prides itself on offering traditional relationship banking, with each high street store boasting at least one business manager to assist local customers and credit teams on hand ready to meet customers face-to-face. What’s more, lending decisions are based on not just the customer’s balance sheet, but the people and plans behind the organisation, allowing the bank to take a common sense approach to supporting its customers.
As a bank without legacy systems, Metro Bank has had the opportunity to design its services with its customers in mind, taking into account the challenges that many of them are going through. Accounts can be set-up in a matter of hours without an appointment; stores are open seven days a week, early in the morning to late at night to suit the needs of busy organisations; and free in-store coin counters provide a practical solution for many trading businesses.
The expansion of the team closely follows the news that the bank has launched a £1bn fund for business and commercial customers in 2017, as well as strong quarter three results, which revealed a 73% year-on-year increase in lending, with loans to business and commercial customers representing 35% of total lending. The bank also reported a 66% year-on-year growth in deposits to £7.3billion, 52% of which was from business and commercial customers.