Metro Bank reveals objective of acquiring RateSetter

Tuesday 16 June 2020 11:06 CET | News

UK-based Metro Bank has announced it is discussing the acquisition of P2P lender RateSetter.

According to Peer-to-Peer Finance News, the two companies have entered a period of exclusivity, with the bank showing interest in the platform’s consumer loan book. By the end of April 2020, RateSetter had a loan portfolio of approximately EUR 892 million, and an average yield on its loan assets of approximately 4.4%.

Metro Bank previously partnered with Zopa in 2015, in a deal which allowed the bank to lend its funds via the Zopa platform. 

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Keywords: Metro Bank, banks, RateSetter, UK, P2P, lender, loans, Zopa
Categories: Banking & Fintech
Countries: United Kingdom
This article is part of category

Banking & Fintech