It is fair to say that Metro Bank does not talk like other lenders. For example, it does not have customers, it has FANS. Where other banks make bold claims for their service, Metro goes further. Not content with providing a somewhat better offering than others it claims for itself an “AMAZEING culture” fostered by the “AMAZEING behaviours” of its colleagues – which is what it calls its 3,000-strong workforce.
And the valuation? That is pretty amazing, too. Where Lloyds Banking Group trades at a book value of 1.3 times the value of its assets, Metro Bank is well above 3 and is heading higher. The more than 50 per cent rise in the value of the shares since the April 2016 flotation means that