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Carlyle Group interested in acquiring Metro Bank

Thursday 4 November 2021 15:01 CET | News

British lender Metro Bank has attracted takeover interest from Carlyle Group.

The buyout firm has been studying a potential acquisition of Metro Bank, as speculations mount. Shares of Metro Bank have fallen 25% in London trading in 2021, giving it a market value of about GBP 180 million (USD 245 million). 

Metro Bank’s image took a hit of its own in 2019, when UK regulators (the Financial Conduct Authority and Prudential Regulation Authority) began an ongoing investigation into how it misclassified certain assets. The lender, which had a market value of about GBP 3.6 billion at the peak, has seen its shares slide since then. 

Deliberations are ongoing, and there’s no certainty they will lead to a formal offer. In a third-quarter trading update in October 2021, Metro Bank’s Chief Executive Officer Daniel Frumkin said the business had improved its lending mix and was seeing signs of a ‘gradual return to normality.’

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Keywords: acquisition, banks, lending
Categories: Banking & Fintech
Companies:
Countries: United Kingdom
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Banking & Fintech






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