High-street challenger Metro Bank Holdings PLC (LSE:MTRO) has revived plans to offload its multibillion-dollar mortgage book after a deal with Barclays PLC (LSE:BARC) fell apart last December.
According to a Sky News report, which did not mention who the potential buyers are, Metro’s mortgage book is worth at least £3 billion, but could fetch up to £4 billion.
Metro’s star has fallen since becoming the first British high-street lender to open its door in over 100 years in 2010.
The bank was given a £925 million funding lifeline in October 2023 amid a sharp decline in its share price and heavy post-pandemic losses.
Since then, Metro has managed to turn its first pre-tax profit in five years, though it came at a price of a large-scale cost-cutting programme and headcount reductions.
Metro Bank shares added 2.2% following the Sky News report, but the stock is still down 70% year on year.