The latest London South East Webinar takes place on July 6. Come and hear CEO’s from Orosur Mining, Caledonia Mining, Glantus Holdings and Tekcapital speak. Please register here

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksMetro Bank Share News (MTRO)

Share Price Information for Metro Bank (MTRO)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 101.40
Bid: 102.50
Ask: 103.00
Change: 0.00 (0.00%)
Spread: 0.50 (0.49%)
Open: 103.00
High: 104.70
Low: 101.40
Yest. Close: 104.90
MTRO Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

RNS Alerts are a premium feature

Login to your account

myTerminal is a premium feature

Login to your account

Don't have an account? Click here to register.

Metro Bank Buys Peer-To-Peer Loan Book For Up To GBP384 Million

Tue, 2nd Feb 2021 09:32

(Alliance News) - Metro Bank PLC on Tuesday said it has acquired at par value a portfolio of peer-to-peer loans invested through the RateSetter platform.

Metro Bank acquired RateSetter for up to GBP12.0 million in cash back in August.

The loan book, the lender explained on Tuesday, was acquired from peer-to-peer investors who have invested through the RateSetter platform. Metro Bank will fork out up to GBP384 million for the portfolio of unsecured consumer loans.

"The exact amount is expected to be less as the portfolio will continue to amortise between announcement and expected completion in April 2021, following a two-month notice period for retail investors," Metro Bank said.

The portfolio has a total book value of GBP384 million with an average total gross yield of around 8%.

Metro Bank added: "The portfolio consists primarily of unsecured consumer loans and is amortising rapidly, with an average weighted loan term of two years remaining. It is a well-seasoned portfolio delivering a consistent credit performance."

The move boosts Metro Bank's presence in the unsecured lending market, Chief Executive Officer Daniel Frumkin noted.

The acquisition is forecast to reduce the lender's September 30 pro-forma CET1 ratio by around 0.6% and its MREL ratio by about 0.9%.

Back in December, Metro Bank said its CET1 ratio was around 16.3% and its MREL ratio around 24.2%.

Metro Bank shares were 4.0% higher at 122.43 pence each in London on Tuesday morning.

By Eric Cunha; ericcunha@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

More News

Sunday newspaper round-up: Covid-19 restrictions, Airline industry, Aviva

(Sharecast News) - Britain will have a six-week window to open up in the summer or risk keeping Covid-19 restrictions in place until the spring, ministers fear. Boris Johnson on Saturday gave his clearest signal yet he is planning to delay a full return to normality for another month, as he said he wanted to give Covid-19 vaccines "extra legs" in "the race between the vaccines in the lockdowns". - Sunday Telegraph

13 Jun 21 11:42

IN BRIEF: Metro Bank seals disposal of car dealer finance portfolio

IN BRIEF: Metro Bank seals disposal of car dealer finance portfolio

10 Jun 21 18:20

BROKER RATINGS: JPMorgan raises Sage to Neutral; MS ups Whitbread

BROKER RATINGS: JPMorgan raises Sage to Neutral; MS ups Whitbread

14 May 21 09:39

UK shareholder meetings calendar - next 7 days

UK shareholder meetings calendar - next 7 days

11 May 21 16:13

Metro Bank sees solid first quarter with improved deposit mix

Metro Bank sees solid first quarter with improved deposit mix

28 Apr 21 11:16

More 5% deposit mortgages unveiled in boost to first-time buyers

More 5% deposit mortgages unveiled in boost to first-time buyers

22 Apr 21 11:21

IN BRIEF: Metro Bank completes acquisition of RateSetter loan book

IN BRIEF: Metro Bank completes acquisition of RateSetter loan book

6 Apr 21 16:06

Wednesday broker round-up

(Sharecast News) - Croda International: Berenberg reiterates buy with a target price of 7,400p.

3 Mar 21 13:05

LONDON MARKET MIDDAY: Pound Puts Pressure On FTSE 100; Mid-Caps Rally

LONDON MARKET MIDDAY: Pound Puts Pressure On FTSE 100; Mid-Caps Rally

24 Feb 21 12:04

SMALL-CAP WINNERS & LOSERS: Travel Stocks Bask In Further Gains

SMALL-CAP WINNERS & LOSERS: Travel Stocks Bask In Further Gains

24 Feb 21 10:44

BROKER RATINGS: Investec Downgrades StanChart To Hold From Buy

BROKER RATINGS: Investec Downgrades StanChart To Hold From Buy

24 Feb 21 09:38

Metro Bank Sees Widened 2020 Loss But Transformation Plan On Track

Metro Bank Sees Widened 2020 Loss But Transformation Plan On Track

24 Feb 21 09:37

Covid-19 weighs heavily as losses widen at Metro Bank

(Sharecast News) - Metro Bank saw losses widen significantly last year, as the Covid-19 pandemic dented income and saw customers default on loans.

24 Feb 21 09:31

UK Earnings, Trading Statements Calendar - Next 7 Days

UK Earnings, Trading Statements Calendar - Next 7 Days

17 Feb 21 15:57

SMALL-CAP WINNERS & LOSERS: Kerry Rises On Payout, Strategic Review

SMALL-CAP WINNERS & LOSERS: Kerry Rises On Payout, Strategic Review

16 Feb 21 10:50

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.