Metro Bank Holdings PLC: Third Quarter 2023 Trading Update
Metro Bank Holdings PLC (MTRO)
Metro Bank Holdings PLC: Third Quarter 2023 Trading Update
07-Nov-2023 / 07:00 GMT/BST
Metro Bank Holdings PLC
Trading Update Q3 2023
7 November 2023
Metro Bank Holdings PLC (LSE: MTRO LN) (“Metro Bank”)
Third Quarter 2023 Trading Update
Secured £325m capital raise, comprising £150m of new equity and £175m of new MREL issuance, alongside £600m of debt refinancing as previously announced.
£ in millions
30
September
2023
30
June
2023
Change
from
H1 2023
30
September
2022
Change
from
Q3 2022
Assets
£21,606
£21,747
(1%)
£22,553
(4%)
Loans
£12,513
£12,572
nm
£12,830
(2%)
Deposits
£15,612
£15,529
1%
£16,371
(5%)
Loan to deposit ratio
80%
81%
(1 ppts)
78%
2 ppts
As announced on 8 October, post quarter end Metro Bank noted an increase in deposit outflow rates in advance of the announcement of the capital package. Since the announcement, daily flows have returned to more normal ranges.
The third quarter delivered continued momentum in Personal and Business Current Account growth and customer acquisition as well as a modest statutory profit after tax. Lending reflects continued controlled asset origination and as such capital resources were broadly flat relative to 30 June levels.
Enquiries
For more information, please contact:
Metro Bank PLC Investor Relations
Jo Roberts
+44 (0) 20 3402 8900
Metro Bank PLC Media Relations
Tina Coates / Mona Patel
+44 (0) 7811 246016 / +44 (0) 7815 506845
Teneo
Charles Armitstead / Haya Herbert Burns
+44 (0) 7703 330269 / +44 (0) 7342 031051
ENDS
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 2023. 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.
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ISIN: GB00BMX3W479 Category Code: QRT TIDM: MTRO LEI Code: 984500CDDEAD6C2EDQ64 OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State Sequence No.: 283025 EQS News ID: 1766403
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