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Metro Bank surpassed one million customer accounts over the bank holiday

High-street challenger bank Metro Bank has announced that it has passed the one million customer accounts mark as it targets its first full year of profitability.

Most notably, the bank has said that it surpassed the milestone over bank holiday Monday, a day when all of its traditional rivals were closed, a fact which the bank’s Chief Executive, Craig Donaldson, claims attests to its model of disruption.

The news comes as the bank continues to expand its portfolio of high street stores with 10 new branches planned this year and it targets its first full year of profitability in 2017 after turning a profit for the first time in the tail-end of last year.

After hitting the million mark, Donaldson said: “Today is a real milestone for all of us at Metro Bank and I’d like to thank our customers, colleagues and shareholders for being part of the Banking Revolution. Less than seven years in, we’re proving that UK banking is ripe for disruption and showing just what can be done with the right model and culture.

“Our success is testament to the fact that people want choice, and we’re seeing more customers than ever vote with their feet and join the Revolution, demonstrating that the integration of stores and digital is a winning combination. Bring on the next million.”

Heading up the vanguard of new challenger banks unleashed in the wake of the financial crash of 2008, Metro Bank has followed a different tack to digital-only neo banks like Atom and Monzo.

Opting for a customer-focused model that mixes its digital services with a renewed focus on branches and a high-street presence, the bank is hoping to step into the void left by the bigger banks who are fleeing bricks and mortar at an ever greater rate.

The bank also listed on the FTSE 250 in March 2016, underpinning its determined march to profitability this year.

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