Metro Bank Holdings PLC (MTRO.L), Thursday announced the first-quarter financial results, reporting significant increase in underlying profit compared to the second half of 2024, primarily due to continued asset rotation and deposit optimisation.
The bank reported 8.465 billion pounds in loan during the first quarter, compared to 11.820 billion pounds in the previous year. Meanwhile, deposits declined to 13.817 billion pounds, compared to last year's 16.210 billion pounds.
Metro Bank added that its continued cost reduction in the quarter is in line with expectations, reflecting actions taken in 2024.
Looking ahead, the firm believes that it will meet its guidance for the full year.
Currently, Metro Bank's stock is climbing 3.07 percent, to 107.40 pence on the London Stock Exchange.
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