IN BRIEF: Metro Bank shares up amid underlying profit growth
Metro Bank Holdings PLC - London-based high-street lender - Says both underlying and statutory profit in the first quarter of 2025 grew ‘significantly’, compared to the second half of 2024. Notes structurally higher net interest margin. Assets fall 24% to £17.07 billion as of March 31, from £22.61 billion a year ago. Total net loans decline 28% to £8.47 billion from £11.82 billion. Metro Bank says it remains confident in meeting guidance.
Chief Executive Officer Daniel Frumkin says: ‘During the first quarter of 2025, we have continued to deliver the strategic repositioning of Metro Bank‘s business, maintaining strong cost control while driving higher net interest margin by changing the mix of assets and remaining disciplined about deposits. We have seen further growth in our corporate and commercial lending, with Metro Bank’s relationship banking and breadth of services creating differentiation for us in the market. Looking ahead, we will continue to play an important role in supporting our customers as the UK focuses on delivering economic growth. We remain firmly on track to meet our guidance given at full year.’
Current stock price: 107.60 pence each, up 3.3% on Thursday morning in London
12-month change: up sharply from 34.80p on May 8, 2024
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