Business
Metro Bank PLC Fitch Rating Review
Metro Bank PLC Fitch Rating Review.
About this update from Metro Bank Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 2372O Metro Bank PLC 30 September 2019 \n\n30 September 2019\n \nLegal Entity Identifier: 213800X5WU57YL9GPK89\n \nMetro Bank PLC Fitch Rating Review\n \nMetro Bank PLC notes Fitch Rating Limited's revised credit rating for Metro Bank, published today.\n \nFitch revised Metro Bank's Long-Term Issuer Default Rating to \"BB\" from \"BB+\". \n \nMetro Bank had a pro forma CET1 ratio of 16.1% at 30 June 2019, that greatly exceeds its 10.6% minimum regulatory requirement. Its pro forma total capital ratio was 18.8% at the end of H1 2019. The bank is also highly liquid, reporting a liquidity coverage ratio of 163% at 30 June 2019.\n \nMetro Bank remains focused on balancing its growth, profitability and capital efficiency, delivered through managing the pace of the cost of growth, driving fee income and rebalancing its lending mix. The bank is confident it will meet its MREL requirement as at 1 January 2020, with a number of different options available to it. \n \n \nENDS\n \nThe information contained within this Announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 and was authorised for release by David Arden, Chief Financial Officer.\n \nEnquiries\n \nFor further information on this announcement, please contact:\n \nMetro Bank PLC \nInvestor Relations\nJo Roberts\n+44 (0)20 3402 8900\[email protected] \n \nMedia Relations\nCharlotte Sjoberg / Tina Coates\n+44 (0)7970 633255 / +44 (0)7811 246016\[email protected] \n \nTeneo\nCharles Armitstead / Haya Herbert-Burns \n+44 (0) 7703 330269 / +44 (0) 7342 031051\[email protected]\n \nAbout Metro Bank\nMetro Bank is the revolution in British banking. It is celebrated for its exceptional customer experience and achieved the top spot in the Competition and Market Authority's Service Quality Survey among personal current account holders for its overall service and came second among business current account holders in August 2019. It was also awarded 'Best All Round Personal Finance Provider' at the Moneynet Personal Finance Awards 2019. It is also recognised by Glassdoor in its 'Best P...