Metro Bank joins CML
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New UK high street bank Metro Bank has joined the Council of Mortgage Lenders.
The CML announced Metro Bank’s membership in its fortnightly newsletter.
The bank, which was granted a banking licence by the FSA earlier this month, is the first new bank to come onto the British high street in 150 years and will open its first two branches in the second quarter of 2010 in Holborn and South Kensington.
Branches will be open from 8am to 8pm on weekdays and 10pm to 4pm on weekends and will offer 24-hour help lines.
Metro Bank’s co-founders are Anthony Thomson and Vernon Hill, who will act as chairman and vice-chairman respectively. Hill was the founder of Commerce Bancorp in the US, which grew from one office in 1973 to a $50bn bank with 500 offices.
The CML now has 110 members and 76 associates.
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