Jaime Gilinski Bacal, a Colombian banking and real estate entrepreneur, has taken control of Metro Bank as part of a bigger rescue deal to fill a hole in the UK lender's finances.

Metro Bank said in a statement late on Sunday that it had raised £325 million ($396 million) from investors, split between £150 million ($183 million) of equity and £175 million ($213 million) of debt.

Of the new equity raised, Spaldy Investments, the vehicle controlled by Gilinski Bacal, will contribute £102 million ($124 million), increasing its stake to 53% from 9% currently.

The capital raise comes after a sell-off last week in the bank's shares, sparked by media reports that the bank was on the hunt for fresh funds. Metro Bank's shares were trading 27% higher Monday, trimming this year's loss to 51%.

Metro Bank CEO Daniel Frumkin said the deal "marks a new chapter" for the lender, which has reported financial losses for several years.

Gilinski Bacal, an investor in Metro Bank since 2019, added: "The opportunity to become the bank's major shareholder is driven by my belief in the need for physical and digital banking underpinned by a focus on exceptional customer service."

— This is a developing story and will be updated.