Colombian billionaire gains control as Metro Bank raises £925m to bolster finances
- Metro Bank has raised £325m in new equity and refinanced £600m of debt to strengthen its balance sheet.
- The deal gives majority control to Colombian billionaire Jaime Gilinski Bacal through his firm Spaldy Investments.
- Metro Bank is shifting towards specialist mortgages and commercial lending while growing deposits and current accounts.
- The bank aims to sell up to £3bn in residential mortgages after previous setbacks including an accounting scandal.
- Metro Bank's CEO expressed confidence this will mark a new chapter for the lender to achieve profitable growth and become the UK's top community bank.
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