Metro Bank PLC - London-based bank - Confirms that acquisition of RateSetter back book completed on Friday last week as expected. The portfolio had an aggregate book value of GBP337 million at completion.
Back in February, Metro Bank said it has acquired at par value a portfolio of peer-to-peer loans invested through the RateSetter platform. The loan book, the lender explained, was acquired from peer-to-peer investors who have invested through the RateSetter platform. Metro Bank acquired RateSetter for up to GBP12.0 million in cash back in August.
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By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Metro Bank (MTRO)