Metro Bank puts itself up for sale years after near-collapse

Metro Bank has announced it is open to takeover bids, three years after a near-collapse forced a major rescue deal. The decision to evaluate a sale could bring a significant financial windfall to its largest shareholder, Colombian billionaire Jaime Gilinski Bacal, who helped rescue the institution in late 2023. The lender stated that a sale is currently just one of several options on the table, and it remains capable of continuing independently if a suitable bidder does not emerge. The bank's board believes exploring potential interest will help maximize value for shareholders following a rigorous turnaround plan that included job cuts and reduced branch hours.