The LNT Group (LNT) has today announced that it has moved its business bank accounts and overdraft to Metro Bank. Metro Bank, the entrepreneur’s bank, is one of the fastest growing banks in the UK. In its recent 2014 results it announced significant growth, driven in part by business customers.
LNT Chairman Lawrence Tomlinson, former Entrepreneur in Residence at the Department for Business, Innovation and Skills, has long been a proponent of challenger banks and the need for more competition in the UK banking market place.
“The UK is crying out for banks like Metro Bank. I’m a strong believer in injecting more competition in the banking market place. What Vernon Hill and the team are doing at Metro Bank is sector leading, as they’ve got a different and refreshing approach to business lending. You can speak directly with the decision maker who takes the time to understand your business, and what works for you.
I’m pleased to be able to support what Metro Bank is doing in the UK and hope to see them gain an even greater share of the market as its presence expands across the country. Whilst there is still a strong argument for the break-up of the two Government backed banks, Metro Bank is demonstrating that there are alternatives to the traditional lenders. I hope LNT’s move to Metro Bank will give others the confidence to follow suit and drive competition into the banking market place.”
Mark Davies, Commercial Director of Specialist Sectors at Metro Bank said:
“As a community bank, we pride ourselves on building strong relationships with people and businesses, and we’re delighted to have LNT as one our business customers. We look forward to a long lasting relationship, and to supporting them with all their banking needs as they grow.’’
The move to Metro Bank will assist LNT on its rapid growth trajectory. All five of LNT’s core businesses exhibited significant growth in their 2013-14 accounts. The Group’s Directors are predicting continued growth in turnover and performance throughout the next financial period.