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PREMIUM: Metro Bank’s continued mushrooming – a Capitec moment awaits
Seven years after it became the first new UK retail bank licensed in 140 years, Metro Bank is now solidly profitable and hitting its straps on all the important levels.
LONDON — Hopefully you've had the chance to hear (or read) last week's interview with Metro Bank founder Vernon Hill. It was inspiring on many levels, but also a reminder of how Americans have refined business to a science – a contrast to a "strategy of hope" that seems to dominate elsewhere.
Vernon created a template for a super successful banking business and is now repeating it in the UK. Now 72, he first applied it in his homeland with Commerce Bank. Hill started that company as a 26 year old with a single branch, selling the 500-branch giant 36 years later for $8.5bn.
Vernon Hill, chairman and founder of Metro Bank. Photographer: Simon Dawson/Bloomberg
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