Metro Finance has surpassed a major milestone, with its total loan book reaching $5 billion for the first time since its inception in 2011.
The non-bank lender has now facilitated over $10 billion in lending for more than 120,000 Australian customers.
Metro’s customer base spans personal and business asset finance, and the lender continues to gain ground in a competitive market.
“As a non-bank lender, Metro prides itself on doing things differently and these recent achievements are the greatest indications of customer trust,” said CEO David Albest (pictured left). “Our customer-led approach of providing tailored flexible solutions continues to attract new customers and I have no doubt this positive trend will continue.”
In addition to the loan book milestone, Metro achieved its first $1 billion asset-backed securities (ABS) transaction in May. The transaction drew strong demand from both local and international investors, signalling growing confidence in the lender’s market position.
CFO Mark Donovan (pictured centre) said Metro’s flexibility and agility were key to its continued success amid broader market uncertainty.
“At a time of great market uncertainty, Metro continues to grow its reputation as a reliable, trusted finance partner for a range of personal and business lending customers,” Donovan said.
“By being agile and flexible with our products and lending terms, we continue to attract customers who have moved away from the big banks in search of something more bespoke to their needs, which is extremely gratifying for all of us at Metro.”
In line with its growth trajectory, Metro Finance has also announced the appointment of Shaun Purcell (pictured right) to the newly created role of chief commercial officer.
Purcell previously served as head of sales and has been instrumental in shaping the company’s national strategy over more than a decade.
“I’ve had the pleasure of working with Shaun for over 10 years, and the executive team and I are thrilled to have Shaun step into this important new role to drive the Metro business forward,” Albest said.
“Metro’s customer-base and the range of products we offer is constantly expanding, and it is in no small part thanks to the hard work of Shaun and his team.”
Purcell brings more than 22 years of experience in banking and finance to the role.
Reflecting on his appointment, he said he was excited to continue supporting Metro’s growth.
“I’d like to thank David and the Metro business, and I’m committed to leveraging my experience to support our brokers and expand Metro’s reach in the market,” Purcell said.
“As CCO, I’m looking forward to further developing our commercial strategy in partnership with the executive team, our amazing Metro team members and national broker network.”
