| |
| Please Note - Streaming News is only available to subscribers to the Active Level and above |
|
|
|
NatWest acquires mortgage portfolio from Metro Bank for £3.1bn
StockMarketWire.com
|
NatWest, the bank formally known as Royal Bank of Scotland, said it had agreed to acquire a £3.0 billion portfolio of prime UK mortgages from challenger lender Metro Bank for £3.1 billion.
NatWet said the purchase represented a 2.7% premium on gross book value.
The portfolio consisted of owner occupied residential mortgages with a weighted average current loan to value of around 60%.
'Growing our mortgage book is an important strategic priority as we build a bank that delivers sustainable returns for shareholders,' chief executive Alison Rose said.
'The addition of this loan book will supplement the strong organic growth that we continue to achieve.'
'Our strong capital position, well above the target range, continues to provide the flexibility to navigate the uncertain environment and support our customers during the challenging times ahead.'
Story provided by StockMarketWire.com
|
|
|
|
|
|
