Richard Saulet from Metro Bank at The Leasing Foundation Third Annual Conference, September 11 2015.

1. Creating FANS! Not Customers

2. metro bank
• Britain’s first new High Street bank
in over 100 years
• Serving retail and business customers
• 7-day store banking, online, mobile &
telephone
• 36 stores in commuterland London,
41 by end of 2015
1

3. a revolution in british banking
2
• Totally new with no legacy reputation, regulatory, credit or
funding issues
• Based on the Commerce Bank, community retail model
– The most successful in America
• Completely deposit funded: No wholesale funding
• New state of the art information technology
• Complete commercial bank
50% consumer 50% business
• 500,000+ Accounts

4. building a brand
3
Model
+ Culture
+ Execution
Value differentiating
Unique
Fanatical

5. • Growth retailers not bankers
• Unique deposit driven/retail focus
• Customers will trade lower rates
for a better retail experience
• Great business creates
FANS! NOT CUSTOMERS
• Growth is essential to success & value
• Become a power retailer
the metro bank model
4

6. the metro bank culture
• Create a culture to match your model
• Culture must be very clear & pervasive
“Buy in or opt out”
• Hire for attitude, train for skills
• Over-train
• Over-reinforce
• Make everyone an owner
5

7. The Revolution has twopartsto it…
VISION
By 2020 we will have:
• Over 1million Customers
• Served by 5,000 colleagues
• In 200 Stores
To do this we must create FANS by
Surprising and Delighting every Customer
by:
• thinking like retailers whilst being
the most professional bankers
• working as one team –
every Customer matters
• building the bank one Store at a time
VALUES
“AMAZE(ING)”
ATTEND to every detail
MAKE every wrong right
ASK if you’re not sure – Bump it up!
ZEST is contagious – Share it!
EXCEED expectations
INSPIRE colleagues to create FANS!
NURTURE colleagues so they grow
GAME CHANGE because this is
a Revolution
Metro Bank is very clear about where we are going and how we get there…
our vision and our values
We therefore have to be AMAZE(ING) every second of every day

8. 7
our culture needs to be pervasive with language
so important...

9. providing the opportunity and development for
AMAZE(ING) careers
8
Landing page on
the MBU websiteStart
here
1
Look at all the
development
available via MBU
Talk to your
manager
3
Career Steps – Where would
you like to go?...
Look across families to broaden
your development
2
Which talent family best
describes YOU?
Talk to your manager about your
talent family during your
AMAZE(ING) Reviews and 1:1s
4
Your job family
shows you which of
our 3 colleges to
look in for your
development

10. providing clear paths to AMAZE(ING) careers ?
9

11. and training interventions to support the career paths…
We now have 60 classroom courses plus loads of other great stuff including:
10
Leadership
For colleagues who lead
others, achieving results
through their team
Customer &
Relationship
For colleagues in
Customer facing
roles
• NEW Negotiation Skills
• COMING THIS YEAR – specialist tools and resources
aligned to specific Functions (e.g. Risk, HR, Finance) and
professional bodies e.g. ICAEW, CIPD
• Learning to Lead; for first time leaders – 56 colleagues attended in
2014
• Circa 150 colleagues have now attended AMAZE(ING) Leader
• NEW courses on Presentation Skills, Leading with Presence & Impact
and Coaching & Mentoring
Specialist Support
For colleagues providing
specialist support so that we
can Surprise & Delight
• NEW Professional Qualifications (more on this in a minute!)
• NEW Foundation Credit Programme for LBMs and Credit
Analysts
• NEW Trainee Local Director Programme to grow our own talent -
5 people currently on the 12 month programme

12. listen…
11
We listen to the “Voice of the Customer” so we understand where we do
well and where we need to be
Score Place 1st Place
Overall 92.0 2nd Lush
87.6 86.0 87.3
91.7
89.7
91.3 92.0 91.3
94.1
80.0
85.0
90.0
95.0
100.0
Performance Target (90)
 Virgin Money does not offer a current account at present.
64
78
0
20
40
60
80
100 Net Promoter
Score
Magic Shops
Complaints per ‘000 accounts
H2 2013 H1 2014 H2 2014
Virgin Money* 0.4 0.5 0.4
1.8 1.5 0.8
Sainsbury’s Bank 0.7 0.93 1.0
Nationwide 1 1 1.2
Tesco Bank 1.5 1.7 1.7
Lloyds 1.1 1.6 2.1
Co-Op Bank 4 2 2.2
Barclays 1.9 2.2 2.8
HSBC 2.4 2.7 2.8
Santander 3.7 3.1 2.8
RBS 3 3 3.0

13. 12
The questions we asked:
% agreed
2013
% agreed
2014
I understand how my business unit contributes… 96 96
My Manager helps me & role models AMAZE(ING) behaviours NEW 88
My AMAZE(ING) Reviews help me… 82 84
Metro Bank communicates effectively with colleagues 79 80
Ongoing training is effective and helps me carry out my role 73 76
There are opportunities for promotion at Metro Bank 83 87
I am encouraged to “bump issues up” 95 94
Metro Bank recognises and rewards a job well done 71 73
Metro Bank is set up to surprise and delight 78 78
Pay is fair and appropriate 67 69
I would recommend Metro Bank’s products and services 95 94
Metro Bank is a good place to work 94 95
I would recommend Metro Bank as an employer 87 88
Our
cultur
eand
how
we
lead
Thesystems,
supportand
trainingwe
provide
…and
how
we
feellisten…
We listen to the “Voice of our Colleagues” so we understand where we do well and
where we need to be

14. 13
Number one bank for customer service by Fairer Finance. Best Overall Current Account at Moneynet Awards 2014.
Technology Innovation: Enterprise Award at 2014 Microsoft Dynamics Customer Excellence Awards.
plaudits…
We continue to receive massively positive awards and recognition…

15. 14
“There’s one noticeablethins about Metro Bank: as isunderstandable for a new bank,it doesn’t have the older ITproblems that older institutionsstruggles with. Each desk has aWindows tablet to process newaccounts, there’s not a desktopcomputer in sight.”
Business Insider,Novem ber 2014
plaudits…
We continue to receive massively positive awards and recognition…
“Which Banks offer the best
service?...The top scorewent to Metro Bank with93%.The bank opened in2010.The survey of morethan 16,000 account holders
considered factors such as
trust, transparency and how
complaints are dealt with as
well as customer“happiness.”The SundayTimes,November 2014

16. The Revolution has twopartsto it…
VISION
By 2020 we will have:
• Over 1million Customers
• Served by 5,000 colleagues
• In 200 Stores
To do this we must create FANS by
Surprising and Delighting every Customer
by:
• thinking like retailers whilst being
the most professional bankers
• working as one team –
every Customer matters
• building the bank one Store at a time
VALUES
“AMAZE(ING)”
ATTEND to every detail
MAKE every wrong right
ASK if you’re not sure – Bump it up!
ZEST is contagious – Share it!
EXCEED expectations
INSPIRE colleagues to create FANS!
NURTURE colleagues so they grow
GAME CHANGE because this is
a Revolution
Metro Bank is very clear about where we are going and how we get
there…
our vision and our values
We therefore have to be AMAZE(ING) every second of every day

17. 16
questions?