- Metro Bank Holdings
- 04 November 2026 14:29:08
Source: Sharecast
Updating on trading, the lender - which currently has 78 UK branches - said NIM had expanded by 42 basis points to 3.45%, putting it within the full-year target range ahead of the fourth quarter. NIM is a key indicator of profitability for banks.
Deposits eased 1% to £13.03bn, after growth in retail and business current account balances were offset by the active management of excess high-cost, non-relationship deposits, which Metro said was being carried out "to optimise funds"”.
Gross loans and advances to customers, meanwhile, sparked 5% to £9.43bn. Within that, lending to its targeted segments of corporate, commercial, SMEs and specialist mortgages surged 37% to £6.62bn, while total run-off books were down 32% at £2.81bn, in line with strategy.
Total assets rose by 3% to £16.67bn.
Daniel Frumkin, chief executive, said: "We are winning market share in our target segments, with loan growth up 37%, as we expand relationships with the businesses that drive UK growth.
"Our exit NIM is already within our full-year guidance range, demonstrating the quality and pace of the balance sheet rotation we have been delivering.
"Credit quality remains strong, our cost of deposits is the lowest of any UK high street bank, and the active management of our run-off loan portfolio continues to free up capital and liquidity to put to work in our target segments."
He concluded: "The combination of lending growth in higher-yielding segments, structural NIM expansion and a disciplined approach to costs means that the bank continues to deliver operating leverage.
"We enter the final quarter of the year with confidence and clear momentum, and reaffirm guidance."
As at 1300 GMT, the stock had rocketed 17% at 178p.
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