Metro Bank Reports Robust Growth in H1 2026

Metro Bank Holdings PLC has reported a strong performance in the first half of 2026, achieving an underlying profit before tax of £61 million—a 34% increase from the previous year. This marks the most profitable half in the bank's history. Core lending grew by a record 43% year-on-year, reflecting an increase in market share.

The bank’s net interest margin (NIM) expanded to 3.25% by June 2026, a 30 basis point increase from the previous year. The return on tangible equity reached 7.5%, with a projected path to exceed 13% by Q4 2026. Metro Bank also maintains the lowest cost of deposits among UK high street banks.

The bank reaffirmed its guidance for future returns on tangible equity: over 13% in late 2026, exceeding 15% in 2027, and surpassing 18% in 2028. CEO Daniel Frumkin highlighted the bank's focus on strategic investments and market expansion, including signing leases for new stores.