Metro Bank confirms mortgage portfolio sale talk

Metro Bank has confirmed that it is currently in talks to sell “a mortgage portfolio.”

Sky news broke the story on Sunday 21 July, in which it detailed that the bank was negotiating a £500m deal with US hedge fund Cerberus Capital Management, which is where Metro bought a £523m mortgage book from in February 2018.

In May this year, Metro raised £375m from shareholders in a bid to quash rumours about its financial health.

In a statement released today, Metro bank says: “The company regularly assesses various opportunities in the market and accordingly confirms that discussions regarding the potential sale of a loan portfolio are taking place.

“There can be no certainty at this stage that an agreement will be reached. A further announcement will be made if and when appropriate.”

Share prices rose 4 per cent as of 10:40 this morning.

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