Metro Bank set to raise 400 mln stg - report
LONDON Dec 4 (Reuters) - New British lender Metro Bank is to raise almost 400 million pounds ($657 million) from existing and new investors, Sky News reported on Wednesday, citing a circular to shareholders.
The bank, which launched in 2010 as Britain's first new high street lender for more than a century, will raise 387.5 million pounds in a fundraising that will close on Dec. 6 to finance the opening of dozens more branches, Sky reported.
Metro Bank declined to comment.
It was launched with a promise to shake up the country's banking industry, and now has 22 branches in and around London.
The bank is loss-making and wants to have 200 branches by 2020. In June it raised 126 million pounds to fund expansion.
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