Metro Bank (GB:MTRO) has released an update.
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Metro Bank has returned to profitability in October 2024, aligning with its forecasted growth, as it strategically repositions its balance sheet towards more lucrative sectors like commercial and SME mortgages. Despite a reduction in loans and deposits, the bank’s net interest margin improved to 2.48%, driven by asset rotation and a significant mortgage portfolio sale. The bank’s collaboration with Infosys aims to enhance its digital capabilities, further supporting its growth momentum.
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