20 October 2017
Find out more

Metro Bank beats first year account opening target in just one month

03 September 2010  |  10705 views  |  1 london tower bridge

UK banking upstart Metro Bank says its first branch exceeded full-year account opening targets in its first month of operation.

The greenfield banking operation - Britain's first new high street bank in over 100 years - opened its doors for business in Holborn last month.

Speaking to Reuters, Metro CEO Craig Donaldson said the business was well ahead of initial targets.

"Holborn has exceeded our year's expectations in one month for new account openings," Donaldson told the wire.

He was speaking as Metro bank opened its second branch in Earls Court and announced plans to hire 100 more workers, bringing total staff to 250. The news comes as bailed-out behemoth Royal Bank of Scotland brought the axe down on 3500 UK back office and tech support staff.

Metro's stellar start comes as new figures reveal that Britain's six biggest high street banks fielded 1.4 million complaints from dissatisfied customers in just six months - equating to over 11,000 complaints a day.

Metro Bank is playing on customer perceptions of shabby service from established banks by promising to set superior customer service standards from its seven-days-week high street outlets. The new bank plans a further 10 stores for Greater London over the next two years as part of a 200 store expansion.

Comments: (1)

Elizabeth Lumley
Elizabeth Lumley - Girl, Disrupted - Crayford | 03 September, 2010, 16:23

Good point just mentioned on Twitter (@FinancialBrand) "No numbers divulged, so we'll take their word."

Hmmm, what were those first year predictions? And by how much did they exceed them? Guess, we will just take their 'marketing' word.

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Metro Bank opens doors as Virgin Money sets back launch date

Metro Bank opens doors as Virgin Money sets back launch date

29 July 2010  |  17115 views  |  4 comments
Metro Bank inks exclusive 5 year deal with MasterCard

Metro Bank inks exclusive 5 year deal with MasterCard

26 July 2010  |  11400 views  |  0 comments
Metro Bank to open doors next month

Metro Bank to open doors next month

16 June 2010  |  10052 views  |  1 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.com visit www.vasco.com

Who is commenting?

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15978 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
9068 views comments | 16 tweets | 23 linkedin
satelliteGates Foundation backs Ripple collaboratio...
8212 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
7219 views comments | 9 tweets | 17 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
6798 views comments | 19 tweets | 25 linkedin

Featured job

Find your next job