Business
Results for Year ended 31 December 2022
Results for Year ended 31 December 2022.
About this update from Metro Bank Holdings Plc
[{"type":"text","content":"\n \n\n\nMetro Bank plc (MTRO)\n\n\n\nMetro Bank plc: Results for Year ended 31 December 202202-March-2023 / 07:00 GMT/BST\n\n\nMetro Bank PLC\n\nFull year results\n\nTrading Update 2022\n\n2 March 2023\n\n \n\nMetro Bank PLC (LSE: MTRO LN)\n\n \n\nResults for Year ended 31 December 2022\n\n \n\nHighlights\n\n \n\nProfitable in Q4 2022 on an underlying basis\n Financials significantly improved year-on-year:\n Underlying revenue increased 31%\n NIM improved by 52bps\n Underlying costs reduced 3%\n \n Completed turnaround; 2023 is a transitional year\n Targeting mid-single digit RoTE by 2024\n Resuming store expansion in the North of England\n \n\nKey Financials\n\n\n £ in millions\n \n \n 31 \n\n December\n\n 2022\n \n \n 31 December\n\n 2021\n \n \n Change from\n\n FY 2021 \n \n \n 30 \n\n June\n\n 2022\n \n \n Change from\n\n H1 2022\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 £22,119\n \n \n £22,588\n \n \n (2%)\n \n \n £22,566\n \n \n (2%)\n \n \n Loans\n \n \n £13,102\n \n \n £12,290\n \n \n 7%\n \n \n £12,364\n \n \n 6%\n \n \n Deposits\n \n \n £16,014\n \n \n £16,448\n \n \n (3%)\n \n \n £16,514\n \n \n (3%)\n \n \n Loan to deposit ratio\n \n \n 82%\n \n \n 75%\n \n \n 7pps\n \n \n 75%\n \n \n 7pps\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n CET1 capital ratio\n \n \n 10.3%\n \n \n 12.6%\n \n \n (230bps)\n \n \n 10.6%\n \n \n (30bps)\n \n \n Total capital ratio (TCR)\n \n \n 13.4%\n \n \n 15.9%\n \n \n (250bps)\n \n \n 13.8%\n \n \n (40bps)\n \n \n MREL ratio\n \n \n 17.7%\n \n \n 20.5%\n \n \n (280bps)\n \n \n 18.3%\n \n \n (60bps)\n \n \n Liquidity coverage ratio\n \n \n 213%\n \n \n 281%\n \n \n (68pps)\n \n \n 257%\n \n \n (44pps)\n \n \n\n\n £ in millions\n \n \n FY\n\n 2022\n \n \n FY\n\n 2021\n \n \n Change from \n\n FY 2021\n \n \n H2\n\n 2022\n \n \n H1\n\n 2022\n \n \n Change from \n\n H1 2022\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Total underlying revenue1\n \n \n £522.1\n \n \n £397.9\n \n \n 31%\n \n \n £285.9\n \n \n £236.2\n \n \n 21%\n \n \n Underlying loss before tax2\n \n \n (£50.6)\n \n \n (£171.3)\n \n \n (70%)\n \n \n (£2.6)\n \n \n (£48.0)\n \n \n (95%)\n \n \n Statutory loss b...