Business
Third Quarter 2021 Trading Update
Third Quarter 2021 Trading Update.
About this update from Metro Bank Holdings Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 5926P\n Metro Bank PLC\n 20 October 2021\n \n \n \n \n \n \n \n Metro Bank PLC (LSE: MTRO LN)\n \n \n \n 20 October 2021\n \n \n \n \n \n \n \n \n \n Third Quarter 2021 Trading Update \n \n \n \n \n \n \n \n \n \n \n \n \n £ in millions\n \n \n \n \n 30\n \n \n September\n \n \n 2021\n \n \n \n \n 30\n \n \n June\n \n \n 2021\n \n \n \n \n Change from\n \n \n half year\n \n \n 2021\n \n \n \n \n 30\n \n \n September \n \n \n 2020\n \n \n \n \n Change from\n \n \n Q3 2020\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 £22,767\n \n \n \n \n £23,013\n \n \n \n \n (1)%\n \n \n \n \n £22,140\n \n \n \n \n 3%\n \n \n \n \n \n \n Loans1\n \n \n \n \n £12,315\n \n \n \n \n £12,325\n \n \n \n \n 0%\n \n \n \n \n £15,085\n \n \n \n \n (18%)\n \n \n \n \n \n \n Deposits\n \n \n \n \n £16,412\n \n \n \n \n £16,620\n \n \n \n \n (1)%\n \n \n \n \n £15,622\n \n \n \n \n 5%\n \n \n \n \n \n \n Loan to deposit ratio\n \n \n \n \n 75%\n \n \n \n \n 74%\n \n \n \n \n 1pp\n \n \n \n \n 97%\n \n \n \n \n (22)pp\n \n \n \n \n \n \n \n \n \n \n \n Q3 total deposits of \n \n \n £16,412 million were 1% below Q2\n \n as the Bank managed the deposit mix, and benefitted from \n the continued roll-off of higher-cost fixed term deposits and growth in current account and instant access balances. Maintaining a high-quality deposit mix remains a near-term focus for 2021.\n \n \n \n \n \n \n Q3 total net loans of £12,315 million were broadly flat\n \n and \n reflected growth in consumer unsecured lending and specialist mortgages, offset by the attrition of lower-yielding residential mortgages and commercial term loans including the initial repayment of BBLS2. Front-book yield continued to improve benefitting from the mix shift towards higher-yielding lending categories, partially offset by pricing pressures in the mortgage market. Credit impairments were benign, in line with guidance provided at the half year. The year-on-year decrease in loan to deposit ratio reflected the £3.1 billion mortgage portfolio disposal completed in February 2021 and the increase in deposits in the period. The Bank continues to hold an elevated liquidity position.\n \n \n \n \n \...