Metro Bank to Sell $739.6 Million Personal Loan Portfolio

Dow Jones

02-26

By Michael Susin

Metro Bank Holdings said it agreed to sell a portfolio of unsecured personal loans valued at around 584 million pounds ($739.6 million).

The U.K. lender on Wednesday said the sale of the portfolio is expected to result in an improvement in its key solvency ratio by around 81 basis points.

The sale is anticipated to complete by the late first quarter, and will result in an estimated 11 million-pound gain upon completion.

Metro Bank said the deal, which is part of its turnaround strategy to rebalance its portfolio, won't affect its guidance given the limited impact on earnings.

Write to Michael Susin at michael.susin@wsj.com

(END) Dow Jones Newswires

February 26, 2025 02:18 ET (07:18 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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