Third Quarter 2023 Trading Update
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07-Nov-2023 / 07:00 GMT/BST
Metro Bank Holdings PLC
Trading Update Q3 2023
Metro Bank Holdings PLC (LSE: MTRO LN) (“Metro Bank”)
Third Quarter 2023 Trading Update
Secured £325m capital raise, comprising £150m of new equity and £175m of new MREL issuance, alongside £600m of debt refinancing as previously announced.
| £ in millions | 30 September 2023 | 30 June 2023 | Change from H1 2023 | 30 September 2022 | Change from Q3 2022 |
|---|---|---|---|---|---|
| Assets | £21,606 | £21,747 | (1%) | £22,553 | (4%) |
| Loans | £12,513 | £12,572 | nm | £12,830 | (2%) |
| Deposits | £15,612 | £15,529 | 1% | £16,371 | (5%) |
| Loan to deposit ratio | 80% | 81% | (1 ppts) | 78% | 2 ppts |
As announced on 8 October, post quarter end Metro Bank noted an increase in deposit outflow rates in advance of the announcement of the capital package. Since the announcement, daily flows have returned to more normal ranges.
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. Lending reflects continued controlled asset origination and as such capital resources were broadly flat relative to 30 June levels.
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