What is MetroCity Bankshares?

MetroCity Bankshares, Inc. operates as the bank holding company for Metro City Bank that provides banking products and services in the United States. It provides consumer and commercial checking accounts, savings accounts, certificates of deposits, money transfers, and other banking services.

Who founded Metro Bank?

American Vernon Hill founded Metro alongside Anthony Thomson, becoming the first high street bank to launch in the UK in 105 years. It has its headquarters in London and is listed on the London Stock Exchange. Metro underwent massive growth in the 2010s and now has 76 branches with 11 more planned for Northern England next year.

Is Metro Bank trading as normal?

Metro is now trading as normal and the bank has moved to reassure customers. Bank chief Daniel Frumkin added: “Our strong franchise is underpinned by our loyal customer base and engaged colleagues, and we will continue to develop the Metro Bank offer to provide the digital and physical banking services our customers expect.

Why has Metro Bank changed its strategy?

Metro Bank today announced a shift in strategy as it prepares to lay off 20 per cent of staff, considers cutting opening times and tries to simplify its business model to become more cost-efficient. The troubled high street lender said the moves are part of plans to ramp up cost savings to £50m a year.