October 24, 2018 / 6:21 AM / 20 days ago

Metro Bank Q3 underlying earnings more than double

Oct 24 (Reuters) - Britain’s Metro Bank Plc reported a doubling of underlying pretax profit in the third quarter thanks to a strong loan book, while issuing a warning about the continuing competitive nature of the mortgage market.

Underlying pretax profit at the lender, founded in 2010 and one of a new class of UK challenger banks, rose to 15.1 million pounds ($19.59 million) for the three months ended Sept. 30, from 7.2 million pounds a year earlier.

$1 = 0.7709 pounds Reporting by Muvija M and Noor Zainab Hussain in Bengaluru

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