Business
First Quarter 2020 Trading Update
First Quarter 2020 Trading Update.
About this update from Metro Bank Holdings Plc
[{"type":"text","content":"\n \n \n RNS Number : 0330M\n Metro Bank PLC\n 06 May 2020\n \n \n \n Metro Bank PLC (LSE: MTRO LN)\n \n 6 May 2020\n \n \n \n \n \n \n First Quarter 2020 Trading Update \n \n \n \n \n \n During this challenging time for the UK our priority remains supporting our customers, our colleagues and our communities. All our stores have remained open. Colleagues are working with customers whose personal or business finances have been impacted to ensure they benefit from the most appropriate support. The bank has also put in place new processes for more vulnerable customers to access cash and dedicated times to call. The business has proved its resiliency, with digital services and back office functions continuing to perform well throughout.\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n £ in millions\n \n \n \n \n 31\n \n \n March\n \n \n 2020\n \n \n \n \n 31\n \n \n December\n \n \n 2019\n \n \n \n \n Change from\n \n \n full year 19\n \n \n \n \n 31\n \n \n March \n \n \n 2019\n \n \n \n \n Change from\n \n \n Q1 19\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Assets\n \n \n \n \n £21,291\n \n \n \n \n £21,400\n \n \n \n \n (1%)\n \n \n \n \n £22,194\n \n \n \n \n (4%)\n \n \n \n \n \n \n Loans\n \n \n \n \n £14,512\n \n \n \n \n £14,681\n \n \n \n \n (1%)\n \n \n \n \n £15,167\n \n \n \n \n (4%)\n \n \n \n \n \n \n Deposits\n \n \n \n \n £14,554\n \n \n \n \n £14,477\n \n \n \n \n 1%\n \n \n \n \n £15,095\n \n \n \n \n (4%)\n \n \n \n \n \n \n Loan to deposit ratio\n \n \n \n \n 100%\n \n \n \n \n 101%\n \n \n \n \n (1pp)\n \n \n \n \n 100%\n \n \n \n \n -\n \n \n \n \n \n \n \n \n \n \n \n \n Q1 total deposits were £14,554 million, up £77 million since 31 December 2019\n \n , reflecting growth in retail savings accounts, despite a reduction in fixed term deposit rates to more normalised levels in the market. Total deposits remained stable in April. \n \n \n \n \n \n \n Q1 total net loans were £14,512 million, £169 million below the 31 December position\n \n , following proactive management of lending growth. The loan to deposit ratio reduced to 100% at the end of the quarter.\n \n \n \n \n \n \n Capital and MREL ratios remain in excess of regul...