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UK’s Metro Bank To Buy P2P Lender RateSetter For At Least $3.27M

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London-based Metro Bank has struck a deal to buy peer-to-peer lender RateSetter for £2.5 Metro will make additional payments to shareholders if RateSetter reaches certain benchmarks, according to a news release. Metro Bank will operate RateSetter as an independent entity and make loans under both its and Metro Bank brands.

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RBS Fund Takes Back £50M From Metro Bank

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After Metro Bank recently pulled back from plans to expand and decided to move away from lending for mortgages, the bank said it will return £50 million from the RBS bailout fund, according to a report. Three banks – Metro, Starling and ClearBank – were collectively given £280 million from the RBS bailout fund last year.

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Metro Bank Pulls Back On Commercial Lending

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challenger bank Metro Bank, the financial institution is reportedly looking to reduce its corporate loan exposure and wind down commercial lending operations. Metro will look to instead focus on residential property financing as it seeks a new chairman. Following a series of setbacks for U.K. The Times on Sunday (Sept.

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Metro Bank Moves Away From Mortgages After Reporting Error

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After a reporting error that caused the exit of its chief executive and chairman in 2019, Metro Bank has announced that it is scaling back its expansion efforts and moving away from lending for mortgages, according to a report by the Financial Times. After the error was revealed, the bank was forced to raise $484 million in new shares.

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Metro Bank Links With ezbob For Same-Day SMB Loans

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To provide a digital lending offering for small business clients, Metro Bank has collaborated with banking software provider ezbob. Metro Bank Chief Commercial Officer Paul Riseborough said, according to reports, “We know quick, reliable access to finance is crucial for small businesses to seize opportunities to grow.

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Philly Consortium Advances ‘Regenerator’ Concept For SMBs

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“As the economy shifts from rescue to reopen, Congress and communities alike need to focus on places rather than just products in the design, finance and delivery of recovery aid,” said Bruce Katz , director of Drexel University’s Nowak Metro Finance Lab. “To The federal role will extend beyond capital,” Katz noted.

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Disruptor UK Bank Atom Raises £50M

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The funding round was led by BBVA with participation from Toscafund, Woodford Patient Capital Trust and Perscitus LLP. Atom was co-founded by Anthony Thomson, who is responsible for Metro Bank, one of the first newer banks to challenge legacy banks in the country. Musician will.i.am also contributed.