An update from Metro Bank ( (GB:MTRO) ) is now available.
Metro Bank Holdings PLC reported a statutory profit after tax of £42.5 million for the year ended December 31, 2024, marking a significant turnaround with a strong focus on profitability and strategic growth. The bank has optimized its balance sheet by selling £2.5 billion in prime residential mortgages and £584 million in unsecured personal loans, which has improved its capital position and reduced funding costs. The company has also achieved a net interest margin of 2.65%, exceeding its guidance. Metro Bank’s strategy to pivot towards higher-margin business and specialist mortgages has created strong momentum, with new loan originations growing by 71% in 2024. The bank plans to open new stores in Chester, Gateshead, and Salford to further support its growth in corporate, commercial, and SME banking.
More about Metro Bank
Metro Bank Holdings PLC operates in the financial services industry, focusing on retail and commercial banking. The company offers a range of banking products including corporate, commercial, and SME lending, as well as specialist mortgages. Metro Bank is known for its network of physical stores across the UK, which supports its relationship-based banking model.
YTD Price Performance: -0.42%
Average Trading Volume: 1,268,317
Technical Sentiment Consensus Rating: Hold
Current Market Cap: £631.3M
For detailed information about MTRO stock, go to TipRanks’ Stock Analysis page.