on Metro Bank Holdings PLC (isin : GB00BMX3W479)
Metro Bank Reports Positive Q3 2024 Performance
Metro Bank Holdings PLC announced a positive trading update for the third quarter of 2024. The bank reported underlying profitability in October, maintaining guidance for a mid-to-upper single-digit RoTE in 2025. Net interest margin (NIM) improved to 2.48%, indicating a strategic shift towards higher yielding loans.
Total net loans decreased by 22% to £9.1 billion as of September 2024, following a successful mortgage portfolio disposal. Customer deposits stood at £15.1 billion, reflecting ongoing cost management efforts. The Financial Conduct Authority completed its review of Metro Bank's historic financial crime controls.
CEO Daniel Frumkin highlighted Metro Bank's move towards niche markets and the creation of a digitally focused bank in collaboration with Infosys. Metro Bank continues to leverage its relationship-based banking model to explore new commercial opportunities.
R. H.
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