Metro Bank puts itself up for sale after its turnaround, its shares rising 7%

Summary

Metro Bank is up for sale after its turnaround paid off, the Evening Standard and The Independent reported on Thursday 12 November, the high street lender, which has 78 branches across the UK, having recently notched up the most profitable half-year in its history. Metro Bank is putting itself up for sale three years after its near-collapse, in a move that could hand a £420m windfall to its Colombian billionaire investor, Jaime Gilinski Bacal, The Guardian reported, the bank having made the rare decision to publicly announce it was open to bids, paving the way for a wider pool of suitors. The announcement pushed the share price up by 7% by mid-morning, valuing the bank at around £1.3bn, according to The Guardian, while Metro UK reported that the bank said the move followed a successful 'substantial transformation' of the business and The Independent headlined that Metro Bank puts itself up for sale for the 'next phase of growth'.

Latest: Metro Bank is up for sale after its turnaround paid off, the Evening Standard and The Independent reported, The Guardian writing that the move could hand a £420m windfall to its Colombian billionaire investor, Jaime Gilinski Bacal, and that the announcement pushed the share price up by 7% by mid-morning, valuing the bank at around £1.3bn, while Metro UK reported that the bank said the move followed a successful 'substantial transformation' of the business.

Written automatically by an AI from the articles' headlines and descriptions. It can contain errors: follow the links to read the articles.