Business
Update on Capital Planning*
Update on Capital Planning*.
About this update from Metro Bank Holdings Plc
[{"type":"text","content":"\n \n \n \n\n\t\n\t\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nMetro Bank Holdings PLC (MTRO)\n\n\n\n\n\n\nUpdate on Capital Planning* 12-Sep-2023 / 07:00 GMT/BST\n\n\n Metro Bank Holdings PLC (LSE: MTRO LN)\n\n12 September 2023\n\n \n\n \n\nMetro Bank Holdings PLC (“Metro Bank”) (the “Company”) \n\n \n\nLegal Entity Identifier: 984500CDDEAD6C2EDQ64\n\n \n\nUpdate on Capital Planning\n\n \n\nMetro Bank and the PRA have undertaken significant work to date on the Company’s AIRB application for residential mortgages. In its latest discussions, the PRA has indicated that at this stage more work is required by the Company which means approval will not be attained during 2023. Whilst Metro Bank continues to engage with the PRA on its application, there is no certainty that approval will be obtained, the timing of any approval or the level of any reduction in risk weighted assets and consequential reduction in regulatory capital requirements that might be achieved. \n\n \n\nThe Board retains conviction in the merits of Metro Bank’s customer-centric model and strongly believes that there is a significant opportunity set that the Company can capitalise on, subject to renewed balance sheet strength. The Company continues to consider how best to optimise its capital resources to allow it to take advantage of the deposit and asset origination platform that has been built.\n\n \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 (which forms part of UK law pursuant to the European Union (Withdrawal) Act 2018) and was authorised for release by Clare Gilligan, Company Secretary. \n\n \n\n \n\nENDS\n\n \n\nFor more information, please contact:\n\n \n\nMetro Bank Investor Relations\n\nJo Roberts\n\n+44 (0) 20 3402 8900 \n\[email protected]\n\n \n\nMetro Bank Media Relations\n\nMona Patel\n\n+44 (0) 7815 506845\n\[email protected] \n\n \n\nTeneo\n\nCharles Armitstead / Haya Herbert Burns \n\n+44 (0)7703 330269 / +44 (0) 7342 031051\n\[email protected]\n\n \n\n \n\n \n\nAbout Metro Bank\n\n \n\nMetro Bank services 2.8 million customer accounts and is celebrat...