Metro Bank Regulatory News (MTRO)

2 October 2019

Legal Entity Identifier: 213800X5WU57YL9GPK89

METRO BANK BOARD UPDATE

Metro Bank today announces that Mr Hill, Founder of Metro Bank, has decided to step down from the Board and his role as Chairman by 31 December 2019. As communicated at the Bank's H1 2019 results, Mr Hill believes that the Bank has now reached a size and scale where it is appropriate to appoint an independent Chairperson.

The Board's search for a new Chairperson is progressing well. However, if this is not completed by the end of the year, the Bank will appoint an existing independent non-executive director as interim Chairperson.

Commenting, Sir Michael Snyder, Senior Independent Director at Metro Bank said:

"Vernon is the inspiration behind Metro Bank, the first high street bank to open in the UK in over 100 years. It is thanks to his vision and leadership that we have grown to 70 stores around the country, serving over 1.8m customer accounts and we've twice been ranked as the number one bank for overall quality of service for personal banking. The Board shares Vernon's view that Metro Bank has now reached a point where an independent Chairperson is appropriate to oversee the next stage of our journey."

ENDS

The information contained within this Announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 and was authorised for release by David Arden, Chief Financial Officer.

Enquiries

For further information on this announcement, please contact:

Metro Bank PLC 

Investor Relations

Jo Roberts

+44 (0)20 3402 8900

IR@metrobank.plc.uk 

Media Relations

Charlotte Sjoberg / Tina Coates

+44 (0)7970 633255 / +44 (0)7811 246016

pressoffice@metrobank.plc.uk

Teneo

Charles Armitstead / Haya Herbert-Burns

+44 (0) 7703 330269 / +44 (0) 7342 031051

Metrobank@teneo.com

About Metro Bank

Metro Bank is the revolution in British banking. It is celebrated for its exceptional customer experience and achieved the top spot in the Competition and Market Authority's Service Quality Survey among personal current account holders for its overall service and came second among business current account holders in August 2019. It was also awarded 'Best All Round Personal Finance Provider' at the Moneynet Personal Finance Awards 2019. It is also recognised by Glassdoor in its 'Best Place to Work UK 2019' top 50 list.

Offering retail, business, commercial and private banking services, it prides itself on using technology to give customers the choice to bank however, whenever and wherever they choose. Whether that's through its growing network of stores open seven days a week, from early in the morning to late at night, 362 days a year; on the phone through its UK-based 24/7 contact centres manned by people not machines; or online through its internet banking or award-winning mobile app: the bank offers customers real choice.

The bank employs around 3,900 colleagues and is headquartered in Holborn, London. 

Metro Bank PLC. Registered in England and Wales. Company number: 6419578. Registered office: One Southampton Row, London, WC1B 5HA. 'Metrobank' is the registered trade mark of Metro Bank PLC.

It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. Most relevant deposits are protected by the Financial Services Compensation Scheme. For further information about the Scheme refer to the FSCS website www.fscs.org.uk.

All Metro Bank products are subject to status and approval.

Metro Bank PLC is an independent UK bank - it is not affiliated with any other bank or organisation (including the METRO newspaper or its publishers) anywhere in the world. Please refer to Metro Bank using the full name.