Metro Bank founder warns he faces ‘limited future’ if he focuses on High Street branches
Metro Bank reached an agreement to raise emergency funds on Sunday following speculation about its financial stability.
The founder of Metro Bank has warned he faces a “limited future” if he continues with his “flawed strategy” of focusing on High Street branches.
The troubled lender reached a deal with Colombian billionaire Jaime Gilinski Bacal to raise emergency funds on Sunday, following speculation about its financial stability.
Announcing the deal, it said it would continue to focus on its High Street sites, at a time when other banks have been removing their branch networks.
Co-founder Anthony Thompson, who was president of the bank between 2010 and 2012, criticized the “flawed strategy.”
He said pursuing a branch-based strategy gave the bank a “very, very limited future.”
“I wouldn’t want to be chairman or chief executive of Metro Bank today,” Thompson told the BBC yesterday.
Metro Bank has 76 branches across the country and offers online and mobile banking services.
