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BRIEF-Metro Bank says ‍Q3 underlying pretax profit up 77 pct from Q2​
October 25, 2017 / 6:14 AM / a month ago

BRIEF-Metro Bank says ‍Q3 underlying pretax profit up 77 pct from Q2​

Oct 25 (Reuters) - Metro Bank Plc:

* METRO BANK PLC - ‍Q3 UNDERLYING PROFIT BEFORE TAX 1 AT £7.2M, A 77 PCT INCREASE FROM £4.0M IN Q2 2017​

* ‍DEPOSITS FROM CUSTOMERS UP £955M, 10 PCT QUARTER-ON-QUARTER TO £10.8B ($14.4B) IN Q3​

* METRO BANK PLC - ‍RECORD QUARTERLY GROWTH OF 79,000 CUSTOMER ACCOUNTS IN Q3 TO 1,124,000, UP 33 PCT YEAR-ON-YEAR​

* Q3 ‍LENDING UP £858M, 11 PCT QUARTER-ON-QUARTER TO £8.6B ($11.5B) AND A 1 PCT INCREASE IN LOAN TO DEPOSIT RATIO TO 80 PCT​

* METRO BANK PLC - ‍LOAN TO DEPOSIT RATIO INCREASED TO 80 PCT IN Q3 (30 JUNE 2017: 79 PCT; 30 SEPTEMBER 2016: 71 PCT) AS MOMENTUM IN OUR LENDING CONTINUES​

* ‍WE ARE ON TRACK TO MEET OUR JANUARY PLEDGE TO LEND £1BN OF NET LENDING TO BUSINESSES DURING 2017​

* METRO BANK PLC - ‍NET INTEREST MARGIN OF 1.94 PCT FOR THIRD QUARTER UP FROM 1.92 PCT DRIVEN BY INCREASE IN LOAN TO DEPOSIT RATIO​

* ‍Q3 COMMON EQUITY TIER 1 CAPITAL (“CET1”) AS A PERCENTAGE OF RISK WEIGHTED ASSETS IS 17.4 PCT​

* METRO BANK - ‍WILLIAMS & GLYN ALTERNATIVE REMEDIES PACKAGE PRESENTS AN OPPORTUNITY AND WE ARE PREPARING OUR BID FOR FUNDS​

* METRO BANK PLC - Q3 ‍TOTAL REVENUE 78.1 MILLION STG VERSUS 53.4 MILLION STG YEAR AGO​

* ‍REMAIN ON TRACK TO DELIVER OUR FIRST FULL YEAR OF PROFITABILITY IN 2017 AND REITERATE OUR 2020 GUIDANCE​ Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 80 6749 1136)

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