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Metro Bank confirms in talks on loan portfolio sale

Published 07/22/2019, 02:20 AM
Updated 07/22/2019, 02:21 AM
Metro Bank confirms in talks on loan portfolio sale

(Reuters) - Metro Bank (L:MTRO) confirmed on Monday it was in talks on the sale of a loan portfolio, as the lender faces pressure to show it has turned the corner after a major loan book error wiped more than 1.5 billion pounds ($1.87 billion) off its market value.

Sky News reported https://news.sky.com/story/return-to-seller-metro-bank-plots-500m-cerberus-loan-deal-11767909 on Sunday that the troubled lender was readying a 500 million pound ($624.85 million) deal to‎ offload a mortgage portfolio back to U.S hedge fund Cerberus Capital Management.

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