REG-Metro Bank Holdings PLC Update on Capital Planning*

Metro Bank HoldingsAnnouncement

12/09/2023 07:15

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   Metro Bank Holdings PLC (MTRO)
   Update on Capital Planning*

   12-Sep-2023 / 07:00 GMT/BST

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                                       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

    1 IR@metrobank.plc.uk

    

   Metro Bank 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 2.8 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 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
    4 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 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.

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   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

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References

   Visible links
   1. mailto:IR@metrobank.plc.uk
   2. mailto:pressoffice@metrobank.plc.uk
   3. mailto:Metrobank@teneo.com
   4. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=ac50e6f85dfb73f4fd992d1146c5a526&application_id=1723547&site_id=refinitiv&application_name=news


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