Metro Bank has followed its big four competitors in reporting bumper profits for the first half of the year.
The challenger bank reported a 38% jump in pre-tax profits to £60.7m over the first six months of 2026, following a jump in corporate, SME and specialist mortgage lending, as Metro tries to corner “underserved markets” to boost profits.
Specialist mortgage lending alone - which include bigger loans to professionals like doctors and architects, and lending to borrowers who might have minor blips on their credit records - surged 73% year-on-year to £2.2bn.
It comes as the bank continues to shift out of run-of-the mill lending as part of a turnaround plan that followed its near collapse in 2023.
While the strong surge in profits will add weight to calls for a UK windfall tax, Metro would likely escape proposals put forward by campaign group Positive Money, which is calling for a levy on net interest income worth more than £800m per year.
Metro Bank reported around £241.5m in underlying net interest income for the first six months of the year, and if repeated, would keep its full year figure below campaigner’s thresholds.
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