Metro Bank Completes Sale of GBP2.5 billion Residential Mortgage Portfolio to NatWest Group PLC

DJ Metro Bank Completes Sale of GBP2.5 billion Residential Mortgage Portfolio to NatWest Group PLC

Metro Bank Holdings PLC (MTRO) 
Metro Bank Completes Sale of GBP2.5 billion Residential Mortgage Portfolio to NatWest Group PLC 
30-Sep-2024 / 16:30 GMT/BST 
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      Metro Bank Holdings PLC (LSE: MTRO LN) 
30 September 2024 
 
 
Metro Bank Holdings PLC 
 
Legal Entity Identifier: 984500CDDEAD6C2EDQ64 
 
Metro Bank Completes Sale of GBP2.5 billion[1] Residential Mortgage Portfolio to NatWest Group PLC 
 
Further to Metro Bank's announcement on 26 July 2024 regarding the sale of a portfolio of approximately GBP2.5[1] billion 
of prime residential mortgages (the "Portfolio") to NatWest Group PLC ("NatWest"), Metro Bank confirms that the sale 
completed on 30 September 2024. 
 
At completion the Portfolio had a book value of cGBP2.4 billion, resulting in a total cash consideration of cGBP2.3 billion 
[2], with TFSME[3] to be repaid from proceeds. 
 
The sale of the Portfolio is in line with Metro Bank's strategy to reposition its balance sheet and enhance 
risk-adjusted returns on capital. The transaction is earnings, NIM and capital ratio accretive, and the sale creates 
additional lending capacity to enable Metro Bank to continue its asset rotation towards higher yielding commercial, 
corporate, SME lending and specialist mortgages. The upgraded guidance provided at H1 2024 results assumed the 
successful completion of the Portfolio sale, and therefore remains unchanged. 
 
[1] Cut-off as at 31-Mar-24 
[2] The final purchase price includes adjustments and reconciliations to reflect certain limited exclusions, costs and 
collections in the run up to completion of the transaction 
[3] Bank of England Term Funding Scheme with additional incentives for SMEs 
 
Enquiries: 
Metro Bank PLC Investor Relations 
[e-mail] 
Metro Bank Media Relations 
Mona Patel 
[phone] 
[e-mail] 
Teneo 
Haya Herbert-Burns/Anthony DiNatale 
[phone]/ [phone] 
[e-mail] 
About Metro Bank 
Metro Bank is celebrated for its exceptional customer experience. It was named as the best bank for service in-store 
for business customers in the Competition and Markets Authority's Service Quality Survey in August 2024. 
Since 2012, Metro Bank has originated and approved just over GBP10bn in commercial lending. 
The community bank offers retail, business, commercial and private banking services, and prides itself on giving 
customers the choice to bank however, whenever and wherever they choose, and supporting the customers and communities 
it serves. Whether that's through its network of 75 stores; on the phone through its UK-based contact centres; or 
online through its internet banking or award-winning mobile app, the bank offers customers real choice. 
Metro Bank is a multi award winning organisation. The Bank has also been awarded "Large Loans Mortgage Lender of the 
Year", 2024 and 2023 Mortgage Awards, accredited as a top ten Most Loved Workplace 2023, "2023 Best Lender of the Year 
- UK" in the M&A Today, Global Awards, the "Inclusive Culture Initiative Award" in the 2023 Inclusive Awards, " 
Diversity, Equity & Inclusion Award" and "Leader of the Year Award 2023" at the Top 1% Workplace Awards, "Best Women 
Mortgage Leaders in the UK" from Elite Women 2023, "Diversity Lead of the Year", 2023 Women in Finance, Best Large Loan 
Lender, 2023 Mortgage Strategy Awards, "Best Business Credit Card", Forbes Advisor Best of 2023 Awards, "Best Business 
Credit Card", 2023 Moneynet Personal Finance Awards. 
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 Metro Bank PLC. 
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 the FSCS 
website www.fscs.org.uk. All Metro Bank products are subject to status and approval. 
Metro Bank is an independent UK bank - it is not affiliated with any other bank or organisation (including the METRO 
newspaper or its publishers) anywhere in the world. Please refer to Metro Bank using the full name. 
ENDS 
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Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
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ISIN:      GB00BMX3W479 
Category Code: DIS 
TIDM:      MTRO 
LEI Code:    984500CDDEAD6C2EDQ64 
OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State 
Sequence No.:  349997 
EQS News ID:  1998893 
 
End of Announcement EQS News Service 
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September 30, 2024 11:30 ET (15:30 GMT)