Source - SMW
Metro Bank posted a 77% rise in third-quarter profit compared to the second quarter after lending and deposit volumes both rose.

Underlying pre-tax profit climbed to £7.2m, up from £4.0m in the second quarter.

Year-to-date underlying pre-tax profit of £13.2m, compared to a £12.4m loss in 2016.

Deposits from customers rose 10% to £10.8b quarter-on-quarter, while lending volumes rose 11% £8.6b.

"In Q3 deposits and lending saw double digit growth, the cost of deposits reduced, and the loan to deposit ratio increased to 80% for the first time," chief executive Craig Donaldson said.

"We also welcomed a record 79,000 new business and personal customer accounts."


At 8:01am: (LON:MTRO) Metro Bank PLC share price was +9.5p at 3650.5p



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