Solid quarter for Metro Bank
Metro Bank, which has branches in Brierley Hill and Wolverhampton, has reported that deposits were flat at £16.4 billion in the first three months of this year.
Assets rose one per cent to £22.7bn with loans rising from £12.2bn to £12.3bn.
The bank said that growth across business and retail customers' instant access and current accounts continued as well as a further reduction in higher-cost fixed term deposits, in line with its strategic plan.
Chief executive Daniel Frumkin said: "Metro Bank has delivered a solid quarter, as we continue to accelerate the shift of our balance sheet, with improved yields achieved from specialist mortgages and unsecured lending, alongside lower cost of deposits and tight cost control. We remain focused on executing our plans and returning the bank to profitable growth whilst supporting our customers, communities and colleagues in what continues to be a changing macro-economic environment."
