REG-Metro Bank Holdings PLC Metro Bank Holdings PLC: Capital Update

Metro Bank HoldingsAnnouncement

28/07/2023 07:30

============

   Metro Bank Holdings PLC (MTRO)
   Metro Bank Holdings PLC: Capital Update

   28-Jul-2023 / 07:18 GMT/BST

   ══════════════════════════════════════════════════════════════════════════

                                       Metro Bank Holdings PLC (LSE: MTRO LN)

                                                                 28 July 2023

    

    

   Metro Bank Holdings PLC (“Metro Bank”)

    

   Legal Entity Identifier: 984500CDDEAD6C2EDQ64

    

                                 Capital Update

    

   Metro Bank Holdings PLC (the “Company”)  today announces that the Bank  of
   England’s Resolution Directorate has agreed to a further extension to  the
   pre-existing adjustment (announced  9 December 2022)  with respect to  the
   existing £250 million 9.139%  Tier 2 Notes (the  “Notes”) issued by  Metro
   Bank PLC (the “Operating Company”)  regarding minimum requirement for  own
   funds and eligible liabilities (“MREL”) eligibility.

    

   The adjustment permits the Notes to  remain eligible to count towards  the
   Company’s MREL requirement until the maturity date of 26 June 2028.

    

   The Notes’ recognition as Tier 2 regulatory capital will amortise from the
   call date (26 June 2023) over the remaining life of the instrument.

    

   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 Stephanie Wallace, Company Secretary.

    

    

                                      ENDS

                                        

   For more information, please contact:

    

   Metro Bank PLC Investor Relations

   Jo Roberts

   +44 (0) 20 3402 8900

    1 IR@metrobank.plc.uk

    

   Metro Bank PLC Media Relations

   Mona Patel

   +44 (0) 7815 506845

    2 pressoffice@metrobank.plc.uk

    

   Teneo

   Charles Armitstead / Haya Herbert Burns

   +44 (0)7703 330269 / +44 (0) 7342 031051

    3 Metrobank@teneo.com

    

    

    

   About Metro Bank

    

   Metro Bank services 2.7 million customer accounts and is celebrated for
   its exceptional customer experience. It is the highest rated high street
   bank 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 February
   2023. Metro Bank has also been awarded “2023 Best Lender of the Year – UK”
   in the M&A 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
   Sequence No.:  260739
   EQS News ID:   1690505


    
   End of Announcement EQS News Service

   ══════════════════════════════════════════════════════════════════════════

    4 fncls.ssp?fn=show_t_gif&application_id=1690505&application_name=news&site_id=refinitiv

References

   Visible links
   1. mailto:IR@metrobank.plc.uk
   2. mailto:pressoffice@metrobank.plc.uk
   3. mailto:Metrobank@teneo.com


============