Metro Bank has tripled its lending to businesses in the last year.

The newest entrant to UK retail banking saw its gross lending reach £168m in 2012, up from £42m in 2011 and £116,000 in 2010.

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Deposit levels rose to £576m, up from £152m in 2011 and £18m in 2010.

Despite this the group experienced a pre-tax loss of around £46m in 2012; up from a loss of £33m in 2011.

A large part of that increase was due to operating expenses which rose to £57m this year from £38m in 2011.

Founder and former chairman of Metro Bank, Anthony Thomson, believes that Metro Bank was the first of many new entrants on to the UK banking scene.

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Speaking at the Future For Regional Banking conference in Newcastle on 7 June, Thomson said: "I believe there is a real opportunity for the creation of new banks that can serve the needs of individuals, communities and businesses; I think we will see between five and 15 new banks over the next three to five years."

"However, I am unsure that the future lies in regional banks. My belief is that the future lies in banks that are regionally based but, over time, become national in their reach," he concluded.

Launched in 2010, Metro Bank was the first high street bank to be awarded a new full banking licence in over 100 years.

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