Metro Bank under BoE and Treasury scrutiny as it sounds out potential mortgage book sale - reports

£3bn mortgage sale

James Baxter-Derrington
clock • 1 min read

Metro Bank has begun talks over selling a portion of its mortgage book to rivals as the firm’s mounting troubles come under scrutiny from the Bank of England and the Treasury.

Sky News reported the bank was eyeing a sale of £3bn of its mortgage book in an attempt to shore up its balance sheet and had opened talks with Lloyds Banking Group, NatWest Group and HSBC. This would add to the potential equity and debt raising that is being targeted by the bank in order to refinance a £350m MREL debt due next year. Metro Bank urgent fundraise plans spark sharp sell-off The equity raise has been made significantly more difficult following the bank's share price decline yesterday (5 October), bottoming at more than 30% before closing at 27.7%, according to data fro...

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