Post-transaction, the acquired entity and its subsidiaries will be wholly-owned by Metro Bank, subsequently broadening its offering to business customers with the addition of invoice and asset financing to meet their individual business needs.
Moreover, SME will remain as a specialist operation under the Metro Bank umbrella, and all SME clients will continue to be serviced directly.
Metro Bank commercial banking managing director Jason Oakley said the acquisition of SME will enable the bank to offer enhanced financing options to its business customers, and make the business banking experience even more convenient.
Metro Bank delivers a tailored business banking service, including a full range of lending and cash management services for businesses of all sizes, and presently manages 19 stores across London and the South East.
