Completion of RateSetter back book acquisition

RNS Number : 5595U

Metro Bank PLC

06 April 2021

 

6 April 2021

Metro Bank PLC ("Metro Bank")

Legal Entity Identifier: 213800X5WU57YL9GPK89

Metro Bank completes acquisition of RateSetter back book

Further to Metro Bank's announcement on 2 February 2021 regarding the acquisition of a portfolio of unsecured personal loans (the "Portfolio") from peer-to-peer investors who invested through the Retail Money Market Ltd ("RateSetter") platform, Metro Bank confirms that the transaction completed on 2 April 2021 as expected. The Portfolio had an aggregate book value of £337m at completion.

ENDS

Enquiries

For further information please contact:

Investor Relations

Jo Roberts

[phone]

[e-mail]

Media Relations

Tina Coates / Abigail Whittaker

[phone] / [phone]

[e-mail]

Teneo

Charles Armitstead / Haya Herbert‐Burns

[phone] / [phone]

[e-mail]

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 for personal and business customers and the number one bank for service in stores in the Competition and Market Authority's Service Quality Survey in February 2021. It was recognised as 'Bank of the Year' at the 2020 MoneyAge Awards and 'Banking Brand of The Year' at the Moneynet Personal Finance Awards 2021.

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.

All Metro Bank products are subject to status and approval.

Metro Bank PLC 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.

 

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