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Metro Bank Holdings PLC - London-based lender - Notes deposit outflow rates have normalised since it announced a funding package. They had increased over fears of Metro Bank’s financial health prior to the capital package. Meanwhile, assets as at September 30 fall 0.7% to £21.61 billion from £21.75 billion as at June 30. Loan to deposit ratio softens to 80% from 81% over the three months. ‘The third quarter delivered continued momentum in personal and business current account growth and customer acquisition as well as a modest statutory profit after tax,’ it says. Metro Bank in October announced a new deal with investors to shore up its finances. The deal included a £325 million capital raise and £600 million in debt refinancing. In early October, the Financial Times said Metro Bank was seeking to raise up to £600 million to shore up its finances. It led to a sell-off in the stock, hitting the 52-week low on October 5. Current stock price: 40.55 pence, down 4.7% on Tuesday late morning in London 12-month change: down 54% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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