The Board of Directors of Metro Bank today announced it is undertaking a Strategic Review of options for how the Company builds on its strategic delivery to accelerate growth, including commencing a Formal Sale Process (FSP).

Metro Bank reported the highest profits in its history for Full Year 2025, alongside continued growth in retail and business current account balances and in target lending segments, whilst maintaining strong credit quality. Metro Bank expects to deliver >13% RoTE in Q4 2026, >15% in 2027, and >18% in 2028.

The significant progress made by Metro Bank means it is now well positioned to consider a broader range of strategic opportunities for its next phase of growth. Against this backdrop, the Board unanimously believes that evaluating potential interest in the Company through an FSP, alongside continuing to execute the standalone plan, will maximise the value creation opportunities available to shareholders and deliver benefits for all stakeholders.

The Takeover Panel has agreed that any discussions with third parties interested in making an offer for the Company may take place within the context of a ‘Formal Sale Process’, to enable such discussions to take place on a confidential basis.

The Company has appointed Morgan Stanley & Co. International plc as its lead financial adviser in relation to the FSP, which is also advising the Board in respect of its obligations under the Takeover Code.

As part of the FSP, the Board invites expressions of interest regarding a potential transaction for the entire issued and to be issued ordinary share capital of the Company.

The Company is not in any active discussions with any potential offeror and is not considered to be in receipt of an approach from any potential offeror as at the date of this announcement. There can be no certainty that any offer will be made. If the FSP does not lead to a transaction, the Company will continue to execute its strategy and deliver its guidance as previously stated.

Shareholders are advised to take no action at this time.