REG-Metro Bank Holdings PLC Metro Bank Holdings PLC: First Quarter 2026 Trading Update

Metro Bank HoldingsAnnouncement

Today 07:02

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   Metro Bank Holdings PLC (MTRO)
   Metro Bank Holdings PLC: First Quarter 2026 Trading Update

   30-Apr-2026 / 07:00 GMT/BST

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                                                      Metro Bank Holdings PLC

                                                       Trading Update Q1 2026

                                                                30 April 2026

    

             Metro Bank Holdings PLC (LSE: MTRO LN) (“Metro Bank”)

                 Legal Entity Identifier: 984500CDDEAD6C2EDQ64

                                        

                       First Quarter 2026 Trading Update

    

    

   Strong delivery in line with strategy

    

     • Continued growth in underlying  and statutory profit, reaffirming  all
       guidance
     • 5% growth in target lending segments of Corporate, Commercial, and SME
       lending and Specialist Mortgages, as asset rotation strategy continues
       at pace
     • Strong  credit   quality   maintained  with   the   portfolio   highly
       collateralised and  prudently provisioned.  Arrears rates  remain  low
       reflecting a benign credit environment
     • Metro Bank continues to  operate with the lowest  Cost of Deposits  of
       any UK High Street bank

    

    

   Daniel Frumkin, Chief Executive Officer at Metro Bank, said:

    

   “We have started the year well, building on the positive momentum that  we
   carried into  2026 by  delivering continued  profit growth  and  increased
   lending in our key target areas  against a dynamic market backdrop. As  we
   successfully rotate our lending and reshape the balance sheet, we have  an
   established and high-quality pipeline, and the lowest cost of deposits  of
   any UK High  Street bank.  We are  confident in  reaffirming all  guidance
   previously provided.

    

   “Our commitment  to  relationship  banking,  our  store  network  and  the
   communities we operate in are positive differentiators, enabling us to win
   market share  and increase  lending.  We look  ahead with  confidence  and
   remain focused on delivering  for our colleagues, customers,  shareholders
   and supporting UK growth.”

    

    

   Key Financials

    

                                                      Change          Change
                                        Q1      FY              Q1
                                                       from            from
   £ in millions                       2026    2025            2025
                                                      FY 2025         Q1 2025
                                                                       
   Total assets                       £16,555 £16,475   0%    £17,074  (3%)
                                                                          
   Gross loans and advances to        £9,141  £8,993    2%    £8,642    6%
   customers
   Less: allowance for impairment     (£143)  (£170)   (16%)  (£177)   (19%)
   Net loans and advances to          £8,998  £8,823    2%    £8,465    6%
   customers
                                                                          
   Deposits from customers            £13,280 £13,445  (1%)   £13,817  (4%)
                                                                          
   Net loan to deposit ratio            68%     66%   2 ppts    61%   7 ppts
                                                                          
   Gross loans and advances to                                            
   customers consists of:
   Target segments                    £5,500  £5,227    5%    £3,623    52%
   Total run-off books                £3,641  £3,766   (3%)   £5,019   (27%)

    

    

   Continued growth in target lending segments of Corporate, Commercial,  and
   SME lending and  Specialist Mortgages,  up 5%  quarter-on-quarter and  52%
   year-on-year. Total net loans at Q1 2026 were £9.0 billion.

    

   In line with strategy, a 3% reduction quarter-on-quarter and 27% reduction
   year-on-year in run-off lending  are freeing up  capital and liquidity  to
   reinvest in target segments. Total gross loans grew 6% year-on-year.

    

   Credit quality  continues  to  remain strong  with  the  portfolio  highly
   collateralised. Arrears  rates  remain  low  reflecting  a  benign  credit
   environment. Reduction  in  allowance  for  impairment  quarter-on-quarter
   driven by sale of non-performing unsecured personal loans held within  our
   run-off portfolio.

    

   Corporate/Commercial/SME credit approved pipeline  currently in excess  of
   £1.0 billion,  providing  significant growth  momentum  into Q2  2026  and
   beyond.

    

   Loan to deposit ratio at Q1  2026 was 68%, providing significant  capacity
   for asset growth.

    

   Metro Bank continues to have  the lowest Cost of  Deposits of any UK  High
   Street bank, with excess liquidity actively managed down to optimise  cost
   of funds. Underlying momentum in  the franchise remains strong with  total
   customer deposits at Q1 2026 of £13.3 billion.

    

    

    

    

   Enquiries

    

   For more information, please contact:

    

   Metro Bank PLC Investor Relations

   Daniel Ainscough

   +44 (0) 20 3402 8900

    1 IR@metrobank.plc.uk

    

   Metro Bank PLC Media Relations

   Victoria Gregory

   +44 (0) 7773 244 608

    2 pressoffice@metrobank.plc.uk

    

   FGS Global

   Mike Turner

   +44 (0) 7766 360900

    3 Metrobank-lon@fgsglobal.com

    

                                      ENDS

    

    

   About Metro Bank

   Metro Bank provides corporate, commercial  and SME banking and  specialist
   mortgage lending,  alongside retail  and private  banking services.  Metro
   Bank offers relationship banking through a network of 78 stores in the UK,
   telephone banking from  UK-based contact centres  and digital banking  via
   mobile app and online.

   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 the Metro Bank group.

   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  4 www.fscs.org.uk.

   Metro Bank is an independent UK bank – it is not affiliated with any other
   bank or organisation. Please refer to Metro Bank using the full name.

    

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   ISIN:          GB00BMX3W479
   Category Code: QRF
   TIDM:          MTRO
   LEI Code:      984500CDDEAD6C2EDQ64
   Sequence No.:  425752
   EQS News ID:   2318408


    
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References

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