Metro Bank (GB:MTRO) has released an update.
Metro Bank has successfully completed the sale of a £2.5 billion prime residential mortgage portfolio to NatWest Group PLC, in a strategic move to restructure its balance sheet and improve returns on capital. The transaction, which concluded with a £2.3 billion cash consideration, is set to boost Metro Bank’s earnings and capital ratios while freeing up capacity for further lending in targeted sectors like commercial and SME lending. This deal was anticipated in Metro Bank’s H1 2024 guidance and thus does not affect their financial forecasts.
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