[13] To correct the error in the capital classification, Metro Bank announced a £350m share issue and said it would reduce its growth plans.

[13] In December 2021, the bank was fined £5.38m by the PRA after their investigation, saying that it had "failed to meet the standards of governance and controls expected of it" with regards to the risk weighting and classification of commercial loans.

[17] Additionally, large depositors began withdrawing funds: Metro Bank admitted that there had been a 4% drop in its deposits in the first quarter of 2019 because of "adverse sentiment".

[20] In November 2024, Metro Bank was fined £16.7 million by the Financial Conduct Authority for failing to ensure an automated system was correctly checking customer transactions for potential money laundering until four years after it was installed.

[23] It was announced in August 2020 that Metro Bank had agreed to acquire Retail Money Market Ltd, a London-based provider of peer-to-peer loans trading as RateSetter.

The purchase was subject to regulatory approval and the agreement of Retail Money Market Ltd shareholders, and was expected to complete in the fourth quarter of 2020.

[28] At the same time Metro Bank entered into discussions over a financing package with its bondholders and shareholders with the aim of restructuring its debt and gaining a capital injection.

[32] On 8 October 2023, Metro Bank secured a £325m capital raise alongside £600m of debt refinancing with Jaime Gilinski Bacal, the second richest person in Colombia, becoming the controlling shareholder with around a 53% stake in the business.

[33][34] Founder Vernon Hill received the Institute of Economic Affairs' Free Enterprise Award in April 2013.

The organisation cited him as "a remarkable entrepreneur who has identified a clear opportunity and entered the UK banking scene at a time when the sector has been under constant fire".