Metro bank founder says bank will make profit and list next year

LONDON, July 23 (Reuters) - New British lender Metro Bank expects to make its first profit and list on the London Stock Exchange next year, its founder and Chairman Vernon Hill told Reuters.

Metro Bank opened in 2010 as Britain's first new retail bank for more than a century and has grown its deposit base and lending at a rapid rate. However, it has yet to make a profit.

"We expect to make a profit next year and our plan is to do an IPO (initial public offering) on the London exchange next year. We're not ready to commit to an exact date but I certainly expect it to happen in the first half of next year," Hill said.

(Reporting by Matt Scuffham)