Metro Bank puts itself up for sale after turnaround

Metro Bank has put itself up for sale as the high street lender explores potential takeover offers following a turnaround of the business in recent years. The London-listed bank announced on Thursday that it had launched a formal sale process as part of a wider strategic review aimed at accelerating growth and maximising returns for shareholders. Metro Bank has appointed Morgan Stanley to oversee the process and invited potential buyers to submit expressions of interest for the entire company. However, the lender stressed that it was not currently in talks with any potential bidders and had received no takeover approaches. The move comes after Metro Bank completed a major restructuring that helped it return to profitability following years of financial difficulties. The move comes after Metro Bank reported its most profitable half-year on record in August, with pre-tax profits jumping 41 per cent to £60.7m in the six months to June. The bank, which operates 78 branche