UK retail and business lender Metro Bank has renewed plans to sell a substantial portion of its mortgage book months after an investor bailout rescued it from potential collapse last year. The bank announced on Monday that it is in discussions to potentially dispose of residential mortgages, confirming earlier reports by Sky News.
Sky News also reported that Metro Bank has engaged Morgan Stanley to assist in raising capital through the sale, citing unnamed City sources. The portfolio size is yet to be finalised but is expected to be between £3bn and £4bn.
