Metro Bank has joined a cross-party group of MPs focusing on challenger banks and building societies.

The APPG for Challenger Banks and Building Societies seeks to inform parliamentarians about challenger financial institutions and the issues they face.

“Metro Bank is the UK’s original challenger bank – the first High Street bank to be established in over 100 years, marking a new dawn for innovation and competition in financial services – and our ambitions remain as strong as ever to shake-up banking by delivering something fresh and better to customers and communities across the country,” said Daniel Frumkin, chief executive, Metro Bank. “The UK can unlock huge economic benefits by removing barriers to the growth of challengers like Metro Bank, and we’re delighted to partner with the APPG for Challenger Banks and Building Societies on this important agenda.”

Metro Bank will support the group’s latest inquiry into the role of challenger banks into ‘Levelling Up’.

“I’m thrilled that Metro Bank is joining the APPG as an Associate Member and greatly look forward to working with them and all our Associate Members on the upcoming Levelling Up inquiry and on future projects,” said APPG chair Karen Bradley MP. “Metro Bank is one of the most recognised Challenger Banks in the UK and has proved to be a real disruptor to the High Street banking oligopoly everywhere it has opened a branch.”

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