Metro Bank reported on Wednesday a 78 percent year-on-year jump in third quarter revenue, helping the British retail bank swing into positive earnings territory with a £0.6 million pound pre-tax profit versus the £3.4 million loss recorded in this period of 2015.
This was the first time Metro Bank has achieved a quarterly underlying profit.
The lender also notched up a 66 percent rise in deposits and a 73 percent lift in its lending as customer accounts as of the end of September rose to 848,000 from June's 780,000 count.
Metro Bank's balance sheet continues to display ratios comfortably above regulatory requirements with the closely watched common equity tier 1 ratio sitting at 20.4 percent. This compares to a regulatory leverage ratio of 7.4 percent.