Home Business NewsBusinessBanking News Metro Bank shareholders approve funding package worth more than £925 million

Metro Bank shareholders approve funding package worth more than £925 million

by LLB Finance Reporter
27th Nov 23 3:50 pm

In an attempt to secure the future of the high streets, Metro Bank’s shareholders have approved a funding package worth more than £925 million.

More than 90% of shareholders voted in favour of the finding package on Monday.

Metro Bank said this “proves there is a place” for their community banking model and they are planning to open more branches.

The Colombian billionaire Jaime Gilinski Bacal become a majority shareholder with a 53% holding after shareholders agreed to the capital fundraise.

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A spokeswoman for Metro Bank said: “Today we received support from our shareholders, who voted overwhelmingly in favour of a new capital package for the bank.

“This is testament to their belief and confidence in the future of Metro Bank and proves there is a place in retail and business banking for our model of stores in major towns and cities, combined with online and mobile banking and great customer service.

“We remain committed to being the number one community bank and will expand our estate of 76 stores, with new stores planned in the north of England over the next two years.”

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