Don’t be surprised if there is another run on a UK bank

Sixteen years after the collapse of Northern Rock, the original ‘challenger’ bank, Metro is reportedly looking to raise up to £600m to bolster its finances as its share price plummets. Don’t be shocked if it – or another – bank fails soon, writes Chris Blackhurst

Customers queue to withdraw money from the Northern Rock Bank in Kingston-upon-Thames, Surrey, in 2007 (PA)

In September 2007, the BBC News evening bulletins led with the revelation that Northern Rock was seeking emergency funding from the Bank of England.

That night, queues of customers started forming outside the beleaguered bank’s branches. The following morning, they were hundreds of yards long.

At the Bank of England, the governor, Mervyn King, saw footage of the lines on his TV screens.