Metro returns mortgages to Cerberus, plans MREL raise

Metro returns mortgages to Cerberus, plans MREL raise

Jasper Cox

July 25, 2019 05:15 PM

Metro6_PA_230x150 — A Metro Bank branch is seen in London. Metro Banks shares dropped by 8\% on Monday 13 May 2019 leaving them 70\% lower for the year to date and concerns about the banks financial position. At its many branches, it has been reported that customers are queueing outside the bank after a WhatsApp message advising people to withdraw their money out of their accounts and empty safe deposit boxes. (Photo by Dinendra Haria / SOPA Images/Sipa USA) | SOPA Images/SIPA USA/PA Images

Metro Bank has successfully offloaded a mortgage portfolio to Cerberus, is planning to raise debt capital for its minimum requirements for own funds and eligible liabilities (MREL), and is finding a new chair to replace founder Vernon Hill, it said in its second quarter results on Wednesday.

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Bank Results Securitization FIG People and Markets Europe Securitization People and Markets EMEA FIG People and Markets Bank Strategy

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Jasper Cox