Metro Bank loans rise as capital remains below regulators’ expectations
Metro Bank has reported a 2% rise in lending for the third quarter, although it also warned that its capital remains below buffers set out by regulators following a significant hit from the pandemic. In the three months to September 30th, loans handed out by the bank climbed to £15.09bn, up 2% from the previous quarter. The bank also said the number of borrowers deferring payments on loans under a government support scheme fell to less than 3.5% of the retail mortgage portfolio, down from 16% three months earlier. Metro said that, while its core capital ratio including additional funding stood at 20%, it is below the excess buffer required by regulator, and that it may have to raise more funds, following a review into capital requirements by the Bank of England expected to wrap up by the end of the year.
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