Metro Bank, after completing a capital package and cost reduction plan, has decided to retain its residential mortgage portfolio valued at up to £3bn, a shift from its earlier intention to sell.
This decision, influenced by the current market environment, is aimed at serving the best interests of its shareholders.
Previously, Metro Bank had been in exclusive negotiations with Barclays for the sale of this portfolio, a move considered vital to strengthening its capital position amid financial restructuring efforts.
In a statement, Metro Bank said: “Following the completion of its recent capital package and cost reduction plan announced on 30th November, Metro Bank Holdings PLC has renewed balance sheet strength.
“The Board has carefully considered a potential sale of up to £3bn of residential mortgages and concluded that, given the prevailing market environment, it is in the best interests of shareholders to retain the existing loan portfolio.”
