NatWest acquires Metro Bank mortgage portfolio

As per the official announcement, on completion of the transaction NatWest Group expects to welcome around 10,000 customer accounts which will continue to be serviced by Metro Bank, in accordance with current arrangements, following the transfer to NatWest Group.

Officials from NatWest Group announced that this deal presents another chance to quickly expand their Retail mortgage portfolio within the bank's current risk framework, offering appealing returns. This move aligns with its strategic goals and follows recent acquisition from Sainsbury's Bank.

The transaction's effect on NatWest Group's CET1 ratio as of June 30, 2024, is a decrease of less than 10 basis points.

NatWest Group has announced an agreement with Metro Bank to acquire a GBP 2.5 billion portfolio of prime UK residential mortgages, with a weighted average current loan to value of c.62%.

Other recent news from NatWest

In April 2024, Sci-Net secured a GBP 700,000 loan from NatWest to grow its customer portfolio. The bank’s IP-backed loan aims to support Sci-Net in expanding its customer base, which includes national retailers such as Tapi Carpets, Missoma, and Jessica McCormack, as well as national distributors.

NatWest's new High Growth IP Loan, developed in collaboration with specialist IP valuers Inngot, is designed to address the funding needs of high-growth firms. Loans are available starting from GBP 250,000, leveraging up to 50% of the firm’s intellectual property, software, patents, copyrights, trademarks, and registered designs, as assessed by Inngot’s systems and processes.

Similarly, in March 2024, NatWest announced a minority investment in Icon Solutions, a payments technology and consultancy services provider. The investment and collaboration between NatWest and Icon Solutions is projected to accelerate the bank’s strategic outcomes in the payment landscape, offer customers more choices, and develop the foundation for future payment innovation.