REG - Metro Bank Holdings - Response to press speculation

Metro Bank HoldingsAnnouncement

05/10/2023 09:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20231005:nRSE8197Oa&default-theme=true

RNS Number : 8197O  Metro Bank Holdings PLC  05 October 2023

Metro Bank Holdings PLC (LSE: MTRO LN)

5 October 2023

 

 

Metro Bank Holdings PLC ("Metro Bank") (the "Company")

 

Legal Entity Identifier: 984500CDDEAD6C2EDQ64

 

Response to press speculation

 

Metro Bank notes the recent press speculation regarding a potential capital
raise. Following Metro Bank's update on capital planning on 12 September 2023,
the Company continues to consider how best to enhance its capital resources,
with particular regard to the £350m senior non-preferred notes due in October
2025. The Company continues to meet its minimum regulatory capital
requirements and had a total capital plus MREL ratio of 18.1% and a leverage
ratio of 4.4% as at 30 June 2023.

 

The Company is evaluating the merits of a range of options, including a
combination of equity issuance, debt issuance and /or refinancing and asset
sales. No decision has been made on whether to proceed with any of these
options.

 

For three consecutive quarters ended 30 June 2023, the bank has been
profitable on an underlying basis, and it expects the Q3 trading update to
show continued momentum in Personal and Business Current Account growth and
customer acquisition, in line with expectations. Metro Bank continues to be
well positioned for future growth.

 

 

ENDS

 

For more information, please contact:

 

Metro Bank Investor Relations

Jo Roberts

+44 (0) 20 3402 8900

IR@metrobank.plc.uk (mailto:IR@metrobank.plc.uk)

 

Metro Bank Media Relations

Tina Coates / Mona Patel

+44 (0)7811 246016 / +44 (0) 7815 506845

pressoffice@metrobank.plc.uk (mailto:pressoffice@metrobank.plc.uk)

 

Teneo

Charles Armitstead / Haya Herbert Burns

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

Metrobank@teneo.com (mailto: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 www.fscs.org.uk
(https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=ac50e6f85dfb73f4fd992d1146c5a526&application_id=1723547&site_id=acquiremedia3&application_name=news)
. 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.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  CIRUPGGAUUPWUMA