Metro Bank Holdings PLC: Interim results for half year ended 30 June 2024
Metro Bank Holdings PLC (MTRO) Metro Bank Holdings PLC Interim results Trading update H1 2024 31 July 2024
Metro Bank Holdings PLC (LSE: MTRO LN) Interim results for half year ended 30 June 2024
Daniel Frumkin, Chief Executive Officer at Metro Bank, said: “Metro Bank has made significant underlying progress during the first half of 2024. We have built real momentum in credit approved pipelines across commercial, corporate and SME lending, whilst expanding spreads in retail mortgages and repricing deposits. At the same time, our continued cost discipline is creating a simpler, more agile bank that is fit for the future.” “Our upgraded guidance today reflects progress against our strategy, including the recent residential mortgage portfolio sale. We expect these actions to positively impact on our balance sheet in the fourth quarter of the current financial year, delivering a return to profitability.” “We look to the future with renewed confidence, as we continue to strengthen and deepen our people-people banking and relationship-led services in areas our FANS value the most.”
Key Financials
Investor presentation A presentation for investors and analysts will be held at 9AM (UK time) on 31 July 2024. The presentation will be webcast on: https://webcast.openbriefing.com/metrobank-jul24/ For those wishing to dial-in: From the UK dial: 0800 358 1035 From the US dial: +1 855 979 6654 Access code: 191899 Other global dial-in numbers: https://www.netroadshow.com/events/global-numbers?confId=67110
Financial performance for the half year ended 30 June 2023 Deposits
Loans
Profit and Loss Account
Capital, Funding and Liquidity
Outlook revised upwards
Metro Bank Holdings PLC Summary Balance Sheet and Profit & Loss Account (Unaudited)
For more information, please contact:
Metro Bank PLC Investor Relations Paul Beaumont / Stella Gavaletakis +44 (0) 20 3402 8900
Metro Bank PLC Media Relations Mona Patel +44 (0) 7815 506845
Teneo Haya Herbert-Burns/ Anthony Di Natale +44 (0) 7342 031051/ +44 (0) 7880 715975 ENDS
About Metro Bank Metro Bank services over three million customer accounts and is celebrated for its exceptional customer experience. It remains one of the highest rated high street banks for overall service quality for personal customers, the best bank for service in-store for business customers and joint top for service in-store for personal customers, in the Competition and Markets Authority’s Service Quality Survey in February 2024. Metro Bank has also been awarded “Large Loans Mortgage Lender of the Year”, 2024 and 2023 Mortgage Awards, accredited as a top ten Most Loved Workplace 2023, “2023 Best Lender of the Year – UK” in the M&A Today, Global Awards, the “Inclusive Culture Initiative Award” in the 2023 Inclusive Awards, “Diversity, Equity & Inclusion Award” and “Leader of the Year Award 2023” at the Top 1% Workplace Awards, “Best Women Mortgage Leaders in the UK” from Elite Women 2023, “Diversity Lead of the Year”, 2023 Women in Finance, Best Large Loan Lender, 2023 Mortgage Strategy Awards,, “Best Business Credit Card”, Forbes Advisor Best of 2023 Awards, “Best Business Credit Card”, 2023 Moneynet Personal Finance 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 76 stores; on the phone through its UK-based contact centres; or online through its internet banking or award-winning mobile app, the bank offers customers real choice. Metro Bank Holdings PLC (registered in England and Wales with company number 14387040, registered office: One Southampton Row, London, WC1B 5HA) is the listed entity and holding company of Metro Bank PLC. Metro Bank PLC (registered in England and Wales with company number 6419578, registered office: One Southampton Row, London, WC1B 5HA) is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. ‘Metrobank’ is a registered trademark of Metro Bank PLC. Eligible deposits are protected by the Financial Services Compensation Scheme. For further information about the Scheme refer to the FSCS website www.fscs.org.uk. All Metro Bank products are subject to status and approval. Metro Bank is an independent UK bank – it is not affiliated with any other bank or organisation (including the METRO newspaper or its publishers) anywhere in the world. Please refer to Metro Bank using the full name. Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. |
ISIN: | GB00BMX3W479 |
Category Code: | IR |
TIDM: | MTRO |
LEI Code: | 984500CDDEAD6C2EDQ64 |
Sequence No.: | 337467 |
EQS News ID: | 1957493 |
End of Announcement | EQS News Service |
UK Regulatory announcement transmitted by EQS Group AG. The issuer is solely responsible for the content of this announcement.