DJ Metro Bank Holdings PLC: First Quarter 2025 Trading Update
Metro Bank Holdings PLC (MTRO)
Metro Bank Holdings PLC: First Quarter 2025 Trading Update
08-May-2025 / 07:00 GMT/BST
=----------------------------------------------------------------------------------------------------------------------
Metro Bank Holdings PLC
Trading Update Q1 2025
8 May 2025
Metro Bank Holdings PLC (LSE: MTRO LN) ("Metro Bank")
Legal Entity Identifier: 984500CDDEAD6C2EDQ64
First Quarter 2025 Trading Update
Highlights
-- Q1 2025 profitable on both an underlying and statutory basis
-- Significant increase in Q1 2025 underlying profit versus H2 2024 from structurally higher NIM, driven by
continued asset rotation and deposit optimisation
-- Corporate/commercial/SME credit approved pipeline as at 31 March 2025 equivalent to >50% of total 2024
lending
-- Continued cost reduction in Q1 2025, in line with expectations, reflecting actions taken in 2024
-- Capital optimised following the GBP250 million Additional Tier 1 (AT1) issuance and completion of GBP584
million unsecured personal loan portfolio sale
-- Metro Bank remains confident in meeting guidance1 given at full year
Daniel Frumkin, Chief Executive Officer at Metro Bank, said:
"During the first quarter of 2025, we have continued to deliver the strategic repositioning of Metro Bank's business,
maintaining strong cost control while driving higher net interest margin by changing the mix of assets and remaining
disciplined about deposits."
"We have seen further growth in our corporate and commercial lending, with Metro Bank's relationship banking and
breadth of services creating differentiation for us in the market."
"Looking ahead, we will continue to play an important role in supporting our customers as the UK focuses on delivering
economic growth. We remain firmly on track to meet our guidance given at full year".
Key Financials
31 March 31 December Change from 31 March Change from
GBP in millions 2025 2024 31 December 2024 2024 31 March 2024
Assets 17,074 17,582 (3%) 22,612 (24%)
Loans 8,465 9,013 (6%) 11,820 (28%)
Deposits 13,817 14,458 (4%) 16,210 (15%)
Loan to deposit ratio 61% 62% (1 ppts) 73% (12 ppts)
Total net loans as at 31 March 2025 were GBP8.5 billion, down 6% from 31 December 2024, reflecting the GBP584 million performing unsecured personal loan portfolio sale. The bank continues to strategically reposition its balance sheet towards higher yielding corporate, commercial and SME lending and specialist mortgages. Metro Bank has a strong and high-quality credit approved commercial pipeline, equivalent to greater than 50% of total new lending in 2024, with year-to-date drawdowns already over 40% of total new lending in 2024.
Customer deposits reduced by 4% in Q1 2025 to GBP13.8 billion, driven by maturities of higher cost fixed-term deposits and continued focus on reducing excess liquidity and cost of deposits.
The underlying service-led core deposit franchise saw continued growth during the quarter, with c.20k new personal and c.10k new business current account openings.
To optimise the capital framework and provide further flexibility for growth, Metro Bank successfully issued GBP250 million AT1 securities during the period, resulting in a further 31 December 2024 pro forma improvement in Tier 1 capital ratio from 13.4% (post unsecured personal loan portfolio sale) to 17.5%. 1. Our guidance is based on our current expectations of forward-looking interest rates and macroeconomicconditions. We will monitor and react to any changes in global economic market conditions and refine our internalforecasts as this position evolves.
Enquiries
For more information, please contact:
Metro Bank PLC Investor Relations
Stella Gavaletakis/ Daniel Ainscough
+44 (0) 20 3402 8900
IR@metrobank.plc.uk
Metro Bank PLC Media Relations
Victoria Gregory
+44 (0) 7773 244 608
pressoffice@metrobank.plc.uk
FGS Global
Chris Sibbald
+44 (0) 7855 955 531
Metrobank-lon@fgsglobal.com
ENDS
About Metro Bank
Metro Bank provides corporate, commercial and SME banking and specialist mortgage lending, alongside retail and private banking services. Metro Bank offers relationship banking through a network of 75 stores in the UK, telephone banking from UK-based contact centres and digital banking via an award-winning mobile app.
Metro Bank appeared in second place for personal and business service in-store in the Competition and Markets Authority's Service Quality Survey, February 2025.
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 the Metro Bank group.
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 www.fscs.org.uk.
Metro Bank is an independent UK bank - it is not affiliated with any other bank or organisation. Please refer to Metro Bank using the full name.
----------------------------------------------------------------------------------------------------------------------- Dissemination of a Regulatory Announcement that contains inside information in accordance with the Market Abuse Regulation (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
-----------------------------------------------------------------------------------------------------------------------
ISIN: GB00BMX3W479 Category Code: QRF TIDM: MTRO LEI Code: 984500CDDEAD6C2EDQ64 OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State Sequence No.: 386898 EQS News ID: 2132590 End of Announcement EQS News Service =------------------------------------------------------------------------------------
Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=2132590&application_name=news&site_id=dow_jones%7e%7e%7ef1066a31-ca00-4e1a-b0a4-374bd7d0face
(END) Dow Jones Newswires
May 08, 2025 02:01 ET (06:01 GMT)
