Update on Capital Planning*
Metro Bank Holdings PLC (MTRO)
Metro Bank Holdings PLC (LSE: MTRO LN) 12 September 2023
Metro Bank Holdings PLC (“Metro Bank”) (the “Company”)
Legal Entity Identifier: 984500CDDEAD6C2EDQ64
Update on Capital Planning
Metro Bank and the PRA have undertaken significant work to date on the Company’s AIRB application for residential mortgages. In its latest discussions, the PRA has indicated that at this stage more work is required by the Company which means approval will not be attained during 2023. Whilst Metro Bank continues to engage with the PRA on its application, there is no certainty that approval will be obtained, the timing of any approval or the level of any reduction in risk weighted assets and consequential reduction in regulatory capital requirements that might be achieved.
The Board retains conviction in the merits of Metro Bank’s customer-centric model and strongly believes that there is a significant opportunity set that the Company can capitalise on, subject to renewed balance sheet strength. The Company continues to consider how best to optimise its capital resources to allow it to take advantage of the deposit and asset origination platform that has been built.
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (which forms part of UK law pursuant to the European Union (Withdrawal) Act 2018) and was authorised for release by Clare Gilligan, Company Secretary.
ENDS
For more information, please contact:
Metro Bank Investor Relations Jo Roberts +44 (0) 20 3402 8900
Metro Bank Media Relations Mona Patel +44 (0) 7815 506845
Teneo Charles Armitstead / Haya Herbert Burns +44 (0)7703 330269 / +44 (0) 7342 031051
About Metro Bank
Metro Bank services 2.8 million customer accounts and is celebrated for its exceptional customer experience. It remains one of the highest rated high street banks for overall service quality for personal customers and the best bank for service in-store for personal and business customers, in the Competition and Markets Authority’s Service Quality Survey in August 2023. Metro Bank has also been awarded “2023 Best Lender of the Year – UK” in the M Today, Global Awards, “Best Mortgage Provider of the Year” in 2022 MoneyAge Mortgage Awards, “Best Business Credit Card” in 2022 Moneynet Personal Finance Awards, “Best Business Credit Card 2022”, Forbes Advisor, “Best Current Account for Overseas Use” by Forbes 2022 and accredited as a top ten Most Loved Workplace 2022. It was “Banking Brand of The Year” at the Moneynet Personal Finance Awards 2021 and received the Gold Award in the Armed Forces Covenant’s Employer Recognition Scheme 2021.
The community bank offers retail, business, commercial and private banking services, and prides itself on giving customers the choice to bank however, whenever and wherever they choose, and supporting the customers and communities it serves. Whether that’s through its network of 76 stores open seven days a week, 362 days a year; on the phone through its UK-based contact centres; or online through its internet banking or award-winning mobile app, the bank offers customers real choice.
Metro Bank Holdings PLC (registered in England and Wales with company number 14387040, registered office: One Southampton Row, London, WC1B 5HA) is the listed entity and holding company of Metro Bank PLC.
Metro Bank PLC (registered in England and Wales with company number 6419578, registered office: One Southampton Row, London, WC1B 5HA) is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. ‘Metrobank’ is a registered trademark of Metro Bank PLC. Eligible deposits are protected by the Financial Services Compensation Scheme. For further information about the Scheme refer to the FSCS website www.fscs.org.uk. All Metro Bank products are subject to status and approval.
Metro Bank is an independent UK bank – it is not affiliated with any other bank or organisation (including the METRO newspaper or its publishers) anywhere in the world. Please refer to Metro Bank using the full name.
Dissemination of a Regulatory Announcement that contains inside information in accordance with the Market Abuse Regulation (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. |
ISIN: | GB00BMX3W479 |
Category Code: | MSCH |
TIDM: | MTRO |
LEI Code: | 984500CDDEAD6C2EDQ64 |
OAM Categories: | 2.2. Inside information |
Sequence No.: | 270665 |
EQS News ID: | 1723547 |
End of Announcement | EQS News Service |
|
Metro Bank plc Aktie
Die Metro Bank plc Aktie hat zu wenige Einschätzungen, um eine Tendenz festzustellen.
Ein Kursziel von 3 € für Metro Bank plc signalisiert eine deutliche Steigerung im Vergleich zum aktuellen Kurs von 0.62 €.