Metro Bank completes sale of mortgage portfolio
Updated : 16:42
2 February 2021
Metro Bank PLC ("Metro Bank")
Legal Entity Identifier: 213800X5WU57YL9GPK89
Metro Bank completes sale of £3bn residential mortgage portfolio to NatWest Group plc ("NatWest")
Further to Metro Bank's announcement on 18 December 2020 regarding the sale of a portfolio of owner occupied residential mortgages (the "Portfolio") to NatWest, Metro Bank confirms that the sale completed on 2 February 2021 as expected.
The Portfolio had a gross book value of £3,044m resulting in a total cash consideration of £3,127 million.
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About Metro Bank
Metro Bank serves more than two million customer accounts and is celebrated for its exceptional customer experience. It is the highest rated high street bank for overall service quality, in store service, and online and mobile banking services for personal customers in the Competition and Market Authority's Service Quality Survey in August 2020; the bank also ranked in the top two for overall service, store service and digital services for business customers. It was recognised as 'Bank of the Year' at the 2020 MoneyAge Awards.
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 77 stores open seven days a week, early until late, 362 days a year; on the phone through its UK-based 24/7 contact centres; or online through its internet banking or award-winning mobile app: the bank offers customers real choice.
Metro Bank PLC. Registered in England and Wales. Company number: 6419578. Registered office: One Southampton Row, London, WC1B 5HA. 'Metrobank' is the registered trademark of Metro Bank PLC.
It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. Most relevant deposits are protected by the Financial Services Compensation Scheme. For further information about the Scheme refer to the FSCS website www.fscs.org.uk.
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