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Great Service Helps Metro Bank London Grow

I have two reports Vernon Hill, Founder and CEO of Metro Bank London sent me in the last 2 weeks. In London there are 5 large banks which have about 85% market share. Metro Bank opened its doors on July 29, 2010 with 40 employees and 4 stores. Today they have over 1600 employees, 30 stores and over 410,000 accounts. They add about 750 new accounts per month per store. The average US bank adds 30 per month. 

THE UK TIMES RECENTLY NAMED METRO BANK #1 FOR CUSTOMER SATISFACTION

DOWNLOAD THE SURVEY RESULTS HERE

PLEASE NOTE:
METRO IS #1 AT 93%
FIRST DIRECT, THE ONLINE ONLY BANK, GENERALLY THOUGHT TO BE THE SERVICE LEADER IS 83%
RBS IS 6%
SANTANDER   25%
BARCLAYS      30%

TSB IS THE 630 BRANCH SPINOFF FROM LLOYDS

THIS IS THEIR QUARTERLY FINANCIALS

SOME INTERESTING POINTS:

THEIR 630 BRANCHES GREW DEPOSITS £500M FOR THE QUARTER ($793,590,000.00 US Dollars)

THE 27 METRO STORES GREW DEPOSITS £388M FOR THE QUARTER ($616,027,600.00 US Dollars)

THE AVERAGE TSB BRANCH GREW DEPOSITS £256,000/MONTH/BRANCH

($406,451.20 US Dollars)

THE AVERAGE METRO STORE GREW DEPOSITS £4.8M/MONTH/STORE

($7,618,464.00)

THE AVERAGE TSB BRANCH HOLDS £40M IN DEPOSITS ($63,508,000.00 US Dollars)

THE AVERAGE METRO STORE GREW £60M IN DEPOSITS IN THE LAST 12 MONTHS ($95,262,000.00 US Dollars)

NET PROMOTER SCORE IS WHAT % OF YOUR CURRENTS CUSTOMERS WILL RECOMMEND YOU TO A FRIEND. THIS IS VERY RELIABLE.

ATTACHED IS A SUMMARY OF UK BANKS.  TSB IS PROUD TO ANNOUNCE THEIR NET PROMOTER SCORE WENT FROM MINUS-5 TO POSITIVE +1

THE METRO NET PROMOTER SCORE IS 78.9%

 

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