Tagged: metro bank

UK’s Metro Bank Provides Financing to Northamptonshire based Manufacturer

Fill/ Refill, a Northamptonshire family-run manufacturer has received over £600k of financing from Metro Bank in order to “help it achieve its aspirations to be the most responsible closed-loop maker and supplier in the UK.” The independent business formulates, designs and “creates a range of… Read More

Metro Bank Announces £325M Capital Raise, £600M Debt Refinancing

Metro Bank has announced a successful capital package consisting of the following: a £325m capital raise and a £600m debt refinancing. Metro Bank says it has “secured £325m capital raise, comprising £150m of new equity and £175m of new MREL issuance, alongside £600m of debt… Read More

Could UK’s Metro Bank Be This Year’s Next Major Banking Fail?

Metro Bank (MTRO.L)has had a challenging week. Reports that the UK-based challenger bank had been planning to raise as much as £600 million from investors led to financial regulators asking the bank’s management to have a sit-down meeting. Although shares in the banking institution fell… Read More

UK’s Metro Bank Cautions Consumers Against Second-Hand Scams, Fraudulent Activities

Metro Bank’s ‘Scam of the Month’ for September 2023 is a warning to drivers about the influx of second-hand car scams “as approximately a million drivers take possession of their new 73 licence plate cars from September.” Purchase scams can take many forms; “with the… Read More

UK’s Metro Bank Introduces Vulnerable Customer Online Hub

Metro Bank has created dedicated online hubs both to support brokers who may be “working with a vulnerable client, and customers going through a period of vulnerability themselves.” The Bank has launched “a dedicated Vulnerable Customer page on its intermediary website to help brokers understand… Read More

UK’s Metro Bank Issues Warning Against Increase in Malware Attacks

Metro Bank’s ‘Scam of the Month’ of August 2023 is a warning “about the rise in malware attacks against UK bank customers.” Malware, or malicious software, is “designed by criminals to compromise devices including computers, laptops, and mobile phones.” Globally, 5.5 billion malware attacks “were… Read More

Metro Bank Introduces Digital Car Loan Product Under Ratesetter Brand

Metro Bank has launched a digital car loan product under the RateSetter brand to enter the sizeable and growing vehicle financing UK market. The loans are hire purchase loans “for used cars and are currently available through motor brokers using market-leading RateSetter technology.” CarFinance 247… Read More

UK’s Metro Bank Joins APPG for Challenger Banks, Building Societies as Associate Member

The APPG for Challenger Banks and Building Societies are pleased to confirm that Metro Bank is now the latest challenger bank to join them as an Associate Member. The APPG is a cross-party group of MPs and Peers that focuses on informing parliamentarians about challenger… Read More

UK’s Metro Bank Looks for High-Potential Startups for its Innovation Lab

Metro Bank has introduced its second startup collab program, Metro Bank Magic Makers. Drawing on the success of the first program carried out in partnership with L Marks, Metro Bank is now looking for innovative solutions that will further enhance customer experience. Last year, Metro… Read More

UK’s Metro Bank Pledges Support for Improving Literacy

Metro Bank is reportedly one of the signatory companies “pledging support for the National Literacy Trust’s Vision for Literacy Business Pledge.” Poor adult literacy skills mean that one in seven adults in England “have the reading skills of a nine to eleven year old.” Poor… Read More

UK’s PRA Fines Metro Bank £5.376M for Failing in its Regulatory Reporting Governance and Controls

The UK’s Prudential Regulatory Authority (PRA) has imposed a financial penalty on Metro Bank plc “of £5,376,000 for failing to act with due skill, care and diligence in relation to the regulatory reporting of its capital position and for failings in its regulatory reporting governance,… Read More

UK’s Metro Bank Introduces Magic Money Christmas Tree Campaign to Raise Funds for Children’s Charities

Metro Bank (LSE:MTRO), the United Kingdom’s community bank, has introduced its Magic Money Christmas Tree marketing campaign with the goal to raise funds via a gold coin mechanism for various children’s charities through its 78 stores. Created by Metro Bank’s in-house studio and domestic agencies… Read More

Lending Platform RateSetter Reports an Increase in Losses During Last Year as P2P Lender

Lending platform RateSetter’s pre-tax losses have reportedly doubled in its last year operating as a P2P lending platform. This, according to the service provider’s annual accounts. The consumer lending business, which has been acquired by Metro Bank, noted that it recorded a £22.3 million lost… Read More

Metro Bank Extends Relationship with Backbase to Provide Digital Banking Services

Backbase, a digital banking service provider, has renewed its partnership with UK retail bank Metro Bank (LSE:MTRO). According to a release, Backbase will be providing dedicated digital innovation support for Metro Bank’s business banking customers. Metro Bank agreed to an extension five years after Backbase… Read More

Metro Bank Is Now Offering RateSetter Loans At Branches

  Metro Bank announced on Monday it has launched the first set of RateSetter-powered personal loans through its banking branches. Aach of the new loan applications will be assessed and arranged by using RateSetter’s lending technology. Those who qualify for the loans may borrow between… Read More

RateSetter Sells Loan Portfolio to Metro Bank

RateSetter, a leading UK based peer to peer lender, announced on Tuesday that Metro Bank is purchasing its loan portfolio in line. RateSetter reported that Metro Bank has been funding all-new consumer lending following the RateSetter acquisition, which took place in September 2020. “Today’s announcement… Read More

NatWest Acquires Metro Bank’s Mortgage Portfolio

  UK banking group NatWest announced on Monday it has entered into an agreement with Metro Bank to acquire a £3 billion portfolio of prime UK mortgages. According to NatWest, the portfolio consists of owner-occupied residential mortgages with a weighted average current loan to value of… Read More

UK based P2P Lender RateSetter Is Reportedly Struggling to Process Withdrawal Requests from Investors

An investor has reportedly been attempting to get her funds out of one of the UK’s largest peer to peer (P2P) lending platforms, RateSetter, since August 2020. According to a report from the Guardian, the investor (Michelle Johnson) was told by RateSetter’s management that her… Read More

Metro Bank Announces Accounting Software Partnership With Clear Books

UK-based banking group and lender Metro Bank announced on Friday it has formed a partnership with Clear Books to offer account software with free bank feeds and exclusive discounts to the bank’s small business customers. Metro Bank reported that the integration provides its customers with… Read More

Metro Bank Unveils AI-Powered Receipt Management Technology For Business customers

UK-based banking group and lender Metro Bank announced on Monday it has launched AI-powered receipt management technology for business customers through its mobile app. According to Metro, the technology enables businesses to capture, store and link their receipts to transactions in their mobile business app…. Read More

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