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Pollen Street Capital Proposes Early-Stage Takeover of Metro Bank

It follows a lender turnaround that has seen Metro Bank’s share price triple since Jaime Gilinski Bacal’s 2023 bailout

Metro Bank has a stock market valuation of £750 million

Overview

  • Pollen Street Capital, which holds a major stake in Shawbrook Bank, made an approach to take Metro Bank private within the past fortnight
  • The discussions remain informal and no binding offer has been submitted at this early stage
  • Metro Bank was rescued from near collapse in November 2023 through a £925 million deal led by Jaime Gilinski Bacal, who now owns about 53% of the lender
  • Under CEO Daniel Frumkin, the bank has shifted focus to business banking, cut hundreds of jobs and sold loan portfolios to restore profitability
  • Shares closed at 112.2 pence on Friday, giving Metro Bank a market value of just over £750 million, more than triple their level a year ago