REG-Metro Bank Holdings PLC Metro Bank Holdings PLC: Third Quarter 2023 Trading Update

Metro Bank HoldingsAnnouncement

07/11/2023 07:15

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   Metro Bank Holdings PLC (MTRO)
   Metro Bank Holdings PLC: Third Quarter 2023 Trading Update

   07-Nov-2023 / 07:00 GMT/BST

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                                                      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.

                            30       30     Change     30     Change
                                             from              from
                         September  June            September
   £ in millions                           H1 2023            Q3 2022
                           2023     2023              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

    1 Jo.roberts@metrobank.plc.uk

    

   Metro Bank PLC Media Relations

   Tina Coates / Mona Patel

   +44 (0) 7811 246016 / +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

    

    

                                      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&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 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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   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
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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


    
   End of Announcement EQS News Service

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References

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


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