Last checked at 15 Jun 2020 07:00
15 June 2020
Legal Entity Identifier: 213800X5WU57YL9GPK89
METRO BANK PLC
Response to Press Speculation
15 June 2020: Metro Bank PLC (the "Company") notes the recent press speculation regarding a potential acquisition of Retail Money Market LTD and its subsidiaries ("RateSetter"). The Company regularly assesses various opportunities in the market and accordingly confirms that it has entered in to a period of exclusivity with RateSetter, but discussions regarding the potential acquisition are at an early stage.
RateSetter is a UK focused peer-to-peer lender whose distribution platform could accelerate the Company's stated strategy to grow its unsecured consumer lending book.
There can be no certainty at this stage that a formal agreement will be reached, nor as to the terms of any agreement. A further announcement will be made if and when appropriate.
Enquires
For further information on this announcement, please contact:
Metro Bank PLC |
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Jo Roberts, Investor Relations | +44 (0) 20 3402 8900 |
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Media Relations |
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Tina Coates | +44 (0)7811 246 016 pressoffice@metrobank.plc.uk |
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Teneo |
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Charlie Armitstead / Haya Herbert-Burns | +44 (0)7703 330 269 |