Pollen Street bids to take Metro Bank private - InforCapital

Pollen Street Capital has lodged an indicative proposal to acquire Metro Bank and delist the challenger lender from the London Stock Exchange, according to media reports released on 16 June 2025.

The move comes as consolidation gathers pace in the UK banking sector. Pollen Street already backs Shawbrook Bank, which has explored previous merger talks with Metro and is reportedly assessing a separate £5 billion combination with Starling Bank while weighing IPO options.

Metro Bank’s turnaround gained traction after a £925 million recapitalisation in late 2023—comprising £325 million of new equity and £600 million of fresh debt—led by Colombian billionaire Jaime Gilinski Bacal. Through his vehicle Spaldy Investments, Gilinski now controls 53% of the lender and sits on its board.

Since the refinancing, Metro has cut staff, sold loan portfolios and narrowed its focus toward higher-margin lending lines under chief executive Daniel Frumkin. The shares have risen more than 200% in the past year to close at 112.2 p on Friday, valuing the bank at roughly £750 million—far below its 2018 peak of £3.5 billion.

Founded in 2009 as the UK’s first new high-street bank in more than a century, Metro Bank won early fans for seven-day branch hours and dog-friendly service. Yet its physical-network model has struggled to keep pace with the sector’s rapid digital shift and rising funding costs.

Details of Pollen Street’s offer price and structure have not been disclosed. Any formal bid would require approval from Metro’s board, regulators and the bank’s majority owner.