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The Guardian - UK

Business

Kalyeena Makortoff Banking correspondent

Metro Bank to slash costs after £925m rescue deal

Metro Metro Bank EY Jaime Gilinski Bacal United Kingdom United States

Metro Bank branch in London — Metro Bank has 76 branches in the UK. Photograph: Pietro Recchia/SOPA Images/Shutterstock

Metro Bank is launching a fresh cost-cutting drive after the embattled lender clinched a £925m rescue package from investors over the weekend.

The high street lender said it was aiming to slash about £30m of costs a year from 2025 as part of the deal, which avoided a potential breakup or takeover by a rival UK bank.

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