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

PYMNTS

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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Metro Bank Pulls Back On Commercial Lending

PYMNTS

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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RBS Fund Takes Back £50M From Metro Bank

PYMNTS

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 Moves Away From Mortgages After Reporting Error

PYMNTS

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

PYMNTS

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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Metro Bank shares plummet as bank prepares fundraising drive

TheGuardian

Stock falls by 25% in early trading as high street lender seeks to raise £350m to shore up its balance sheet Metro Bank shares have plunged after news that the high street lender is seeking to raise hundreds of millions of pounds to shore up its balance sheet. Shares were down by 25%. Continue reading.

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Metro Bank considering raising hundreds of millions from investors

TheGuardian

High street lender recently failed to convince regulators it could be trusted to hold less cash against its mortgage risks Metro Bank is considering raising hundreds of millions of pounds from investors, weeks after the high street lender failed to convince regulators it could be trusted to hold less cash against its mortgage risks.

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