Roundup Newswires

Editor Brian Harrod Provides Comprehensive up-to-date news coverage, with aggregated news from sources all over the world from the Roundup Newswires Network

Bank of England sounds out buyers for Metro Bank including NatWest

Posted on October 8, 2023 by Admin

JP Morgan also approached as Metro reportedly tries to thrash out rescue package with investors

The Bank of England’s regulatory arm is understood to have approached a number of big lenders in the past few days, including NatWest and JP Morgan Chase, to see if they had any interest in the embattled high street rival Metro Bank.

JP Morgan Chase examined a potential bid to take over the whole of Metro after speaking to the Prudential Regulation Authority (PRA) but decided on Saturday night not to go ahead with it, a source said.

Metro Bank shares rebound amid reports of £600m capital offer

Posted on October 6, 2023 by Admin

Lender’s stock hit all-time low after news it was exploring selling off up to 40% of mortgage book

Metro Bank shares rebounded from all-time lows on Friday, amid reports that the embattled lender was sitting on a £600m offer from bondholders that could cover its looming funding pressures.

Regulators have been keeping a close eye on developments at the high street lender, which needs fresh investor funding, and is exploring selling off up to 40% of its mortgage book, in order to shore up its balance sheet and ensure it can continue to grow.