Our website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Britain’s Metro Bank returned to profit in September, sees no customer stress

by Staff GBAF Publications Ltd
0 comment

LONDON (Reuters) – Metro Bank said on Wednesday it returned to profit in September by keeping a tight rein on costs and has so far seen no sign of increased stress among its customers as Britain grapples with higher interest rates and an escalating cost of living crisis.

The bank set aside a 10 million pound ($11.49 million) provision in case of losses on loans, and it expects its net interest margin to continue to increase through 2023 as interest rates climb.

“There has been no deterioration in early warning indicators and no signs of stress or increased delinquency across the customer base,” the bank said in third quarter trading update.

($1 = 0.8703 pounds)


(Reporting by Huw Jones, editing by Sinead Cruise)