Its boss said the deal marked “a new chapter” for the troubled lender.
Shares in the bank plunged earlier this week before recovering ground on Friday.
Shares in the bank plunged earlier this week before recovering ground on Friday.
Metro Bank was founded in the wake of the financial crisis in 2010 and was the first to open in the UK in more than 100 years.
It positioned itself as a so-called “challenger” bank to the big High Street names, with its promise of being open seven days a week.
It now has 2.7 million customers and holds about £15bn worth of deposits in 76 branches.
Serious questions were raised after newspaper reports emerged about its finances earlier this week. The Financial Times also reportedover the weekend that several rivals were weighing up potential bids for part of the business.
But in the late announcement on Sunday, it said that it had secured a capital raise of £325m from existing shareholders and new backers.
Shares in the bank plunged earlier this week before recovering ground on Friday.
Its boss said the deal marked “a new chapter” for the troubled lender.
Metro Bank was founded in the wake of the financial crisis in 2010 and was the first to open in the UK in more than 100 years.
Shares in the bank plunged earlier this week before recovering ground on Friday.
Shares in the bank plunged earlier this week before recovering ground on Friday.
Metro Bank was founded in the wake of the financial crisis in 2010 and was the first to open in the UK in more than 100 years.
It positioned itself as a so-called “challenger” bank to the big High Street names, with its promise of being open seven days a week.
It now has 2.7 million customers and holds about £15bn worth of deposits in 76 branches.
Serious questions were raised after newspaper reports emerged about its finances earlier this week. The Financial Times also reportedover the weekend that several rivals were weighing up potential bids for part of the business.
But in the late announcement on Sunday, it said that it had secured a capital raise of £325m from existing shareholders and new backers.
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