Finance
Metro Bank Says It Won’t Offload £3 Billion Mortgage Portfolio
A Metro Bank branch in London.
Photographer: Jose Sarmento Matos/BloombergThis article is for subscribers only.
Metro Bank Holdings Plc said it’s no longer considering the sale of a £3 billion ($3.8 billion) mortgage portfolio after it secured a rescue deal last month that shored up confidence in its shares and finances.
The bank’s board determined it was in the best interests of shareholders to retain the portfolio, according to a statement on Friday. Chief Executive Officer Daniel Frumkin had previously indicated that Barclays Plc was among the possible buyers of the loans.