News
Metro Bank seeking bids for £3bn mortgage book by November – reports
Challenger bank Metro Bank is looking for offers from bidders at the beginning of the next month for a large portion of its mortgage book, media reports have suggested.
According to Sky News, Barclays, Lloyds Banking Group and Natwest have shown interest in the mortgage book.
Sky News reported earlier this month that Metro Bank was looking for bidders for its mortgage book.
Several media reports over the past few weeks have suggested that Metro Bank has been looking for a £600m capital raise after the regulator delayed its approval to allow the bank to use its internal risk for residential mortgages.
The bank secured a £925m refinancing package around a week ago, with Colombian financier Jaime Gilinski growing his stake around sixfold to 53 per cent.
Metro Bank launched in 2010 and has grown to over 2.7 million customers. Its latest result show that its retail mortgage balances came to around £7.6bn in the first half of this year, up 12 per cent year-on-year.
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