October 25, 2017 / 6:29 AM / 2 months ago

Metro Bank Q3 profit jumps as lending and customer numbers rise

Oct 25 (Reuters) - British lender Metro Bank Plc posted a jump in third-quarter underlying pretax profit, driven by strong growth in residential mortgages and commercial lending and a rise in customer numbers.

The company, which listed on the London Stock Exchange in March last year, said underlying profit before tax was 7.2 million pounds ($9.5 million) in the quarter ended Sept. 30, compared with 600,000 pounds a year earlier.

The bank also said Chief Financial Officer Mike Brierley would retire next year and it had appointed David Arden, finance chief at Sainsbury’s bank, as his successor.

Metro Bank, Britain’s first new High Street bank in more than 100 years, said it was preparing a bid for the Williams & Glyn “alternative remedies” package, which presents opportunities for small and medium size businesses. ($1 = 0.7614 pounds) (Reporting by Noor Zainab Hussain in Bengaluru; Editing by David Holmes)

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