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Metro Bank Holdings PLC is considering making an offer for rival challenger bank Aldermore in a deal that could value the lender at around £2 billion, Sky News reported on Tuesday. The report said Metro Bank is in the early stages of assessing whether to submit a formal bid for Aldermore, citing City sources. It added that no decision has yet been made and an offer is not certain. Aldermore, which specialises in mortgages and business lending, was put up for sale in April by its South African owner, FirstRand Ltd. FirstRand said at the time that the UK motor finance mis-selling scandal was expected to cost it around £750 million in compensation. According to Sky News, Lloyds Banking Group PLC is also participating in the sale process, while Shawbrook Group and a number of other UK banks could also table offers. FirstRand acquired Aldermore for £1.1 billion in 2017. Shares in Metro Bank were 1.6% higher at 173.40 pence in London at midday on Tuesday. FirstRand shares were 0.1% lower at R 96.37 in Johannesburg. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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