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)
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