Metro Bank confirms Sale of £2.5 billion Residential Mortgage Portfolio to NatWest Group PLC
Source: EQS
Legal Entity Identifier: 984500CDDEAD6C2EDQ64
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE FOR IMMEDIATE RELEASE
Highlights
Summary The sale of the Portfolio is in line with The Portfolio has a gross book value of The 4.2% discount on gross book value results in an estimated c£105 million loss on sale because the loans were originated in a lower rate environment. Commenting on the disposal, “The sale of part of our residential mortgage portfolio is earnings, NIM and capital ratio accretive. The sale is in-line with Metro Bank’s strategy to reposition its balance sheet for higher risk adjusted returns on regulatory capital. The additional lending capacity provided by this sale will enable us to continue our shift into high yielding assets in niche and underserved markets and become a specialist lender of choice.”
Enquiries: Metro Bank PLC Investor Relations Metro Bank Media Relations +44 (0) 7815 506845 Teneo +44 (0)7342 031051/ +44 (0)7880 715975 Important notices This announcement is not intended to, and does not, constitute or form part of any offer, invitation or solicitation of any offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities or the solicitation of any vote or approval in any jurisdiction, whether pursuant to this announcement or otherwise. This announcement is for information purposes only and is not intended to and does not constitute or form part of any offer or invitation to purchase or subscribe for, or any solicitation to purchase or subscribe for any securities in any jurisdiction.
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. |
ISIN: | GB00BMX3W479 |
Category Code: | DIS |
TIDM: | MTRO |
LEI Code: | 984500CDDEAD6C2EDQ64 |
OAM Categories: | 2.2. Inside information |
Sequence No.: | 336602 |
EQS News ID: | 1954663 |
End of Announcement |
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