on Metro Bank Holdings PLC (isin : GB00BMX3W479)
Metro Bank Completes Sale of £2.5 Billion Residential Mortgage Portfolio to NatWest Group PLC
Metro Bank Holdings PLC (LSE: MTRO LN) confirmed the completion of the sale of its prime residential mortgage portfolio to NatWest Group PLC. The transaction, initially announced on 26 July 2024, was finalized on 30 September 2024. The portfolio, with a book value of approximately £2.4 billion, was sold for a total cash consideration of about £2.3 billion.
This strategic move aims to reposition Metro Bank's balance sheet and improve risk-adjusted returns on capital. The sale aligns with Metro Bank's strategy of enhancing earnings, net interest margin (NIM), and capital ratios. The transaction provides additional lending capacity for higher-yielding commercial, corporate, SME, and specialist mortgages.
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