Metro Bank Holdings PLC
Trading Update Q1 2026
30 April 2026
Metro Bank Holdings PLC (LSE: MTRO LN) (“Metro Bank”)
Legal Entity Identifier: 984500CDDEAD6C2EDQ64
First Quarter 2026 Trading Update
Strong delivery in line with strategy
- Continued growth in underlying and statutory profit, reaffirming all guidance
- 5% growth in target lending segments of Corporate, Commercial, and SME lending and Specialist Mortgages, as asset rotation strategy continues at pace
- Strong credit quality maintained with the portfolio highly collateralised and prudently provisioned. Arrears rates remain low reflecting a benign credit environment
- Metro Bank continues to operate with the lowest Cost of Deposits of any UK High Street bank
Daniel Frumkin, Chief Executive Officer at Metro Bank, said:
“We have started the year well, building on the positive momentum that we carried into 2026 by delivering continued profit growth and increased lending in our key target areas against a dynamic market backdrop. As we successfully rotate our lending and reshape the balance sheet, we have an established and high-quality pipeline, and the lowest cost of deposits of any UK High Street bank. We are confident in reaffirming all guidance previously provided.
“Our commitment to relationship banking, our store network and the communities we operate in are positive differentiators, enabling us to win market share and increase lending. We look ahead with confidence and remain focused on delivering for our colleagues, customers, shareholders and supporting UK growth.”
Key Financials
|
£ in millions
|
Q1
2026
|
FY
2025
|
Change
from
FY 2025
|
Q1
2025
|
Change
from
Q1 2025
|
|
|
|
|
|
|
|
|
Total assets
|
£16,555
|
£16,475
|
0%
|
£17,074
|
(3%)
|
|
|
|
|
|
|
|
|
Gross loans and advances to customers
|
£9,141
|
£8,993
|
2%
|
£8,642
|
6%
|
|
Less: allowance for impairment
|
(£143)
|
(£170)
|
(16%)
|
(£177)
|
(19%)
|
|
Net loans and advances to customers
|
£8,998
|
£8,823
|
2%
|
£8,465
|
6%
|
|
|
|
|
|
|
|
|
Deposits from customers
|
£13,280
|
£13,445
|
(1%)
|
£13,817
|
(4%)
|
|
|
|
|
|
|
|
|
Net loan to deposit ratio
|
68%
|
66%
|
2 ppts
|
61%
|
7 ppts
|
|
|
|
|
|
|
|
|
Gross loans and advances to customers consists of:
|
|
|
|
|
|
|
Target segments
|
£5,500
|
£5,227
|
5%
|
£3,623
|
52%
|
|
Total run-off books
|
£3,641
|
£3,766
|
(3%)
|
£5,019
|
(27%)
|
Continued growth in target lending segments of Corporate, Commercial, and SME lending and Specialist Mortgages, up 5% quarter-on-quarter and 52% year-on-year. Total net loans at Q1 2026 were £9.0 billion.
In line with strategy, a 3% reduction quarter-on-quarter and 27% reduction year-on-year in run-off lending are freeing up capital and liquidity to reinvest in target segments. Total gross loans grew 6% year-on-year.
Credit quality continues to remain strong with the portfolio highly collateralised. Arrears rates remain low reflecting a benign credit environment. Reduction in allowance for impairment quarter-on-quarter driven by sale of non-performing unsecured personal loans held within our run-off portfolio.
Corporate/Commercial/SME credit approved pipeline currently in excess of £1.0 billion, providing significant growth momentum into Q2 2026 and beyond.
Loan to deposit ratio at Q1 2026 was 68%, providing significant capacity for asset growth.
Metro Bank continues to have the lowest Cost of Deposits of any UK High Street bank, with excess liquidity actively managed down to optimise cost of funds. Underlying momentum in the franchise remains strong with total customer deposits at Q1 2026 of £13.3 billion.
Enquiries
For more information, please contact:
Metro Bank PLC Investor Relations
Daniel Ainscough
+44 (0) 20 3402 8900
IR@metrobank.plc.uk
Metro Bank PLC Media Relations
Victoria Gregory
+44 (0) 7773 244 608
pressoffice@metrobank.plc.uk
FGS Global
Mike Turner
+44 (0) 7766 360900
Metrobank-lon@fgsglobal.com
ENDS
About Metro Bank
Metro Bank provides corporate, commercial and SME banking and specialist mortgage lending, alongside retail and private banking services. Metro Bank offers relationship banking through a network of 78 stores in the UK, telephone banking from UK-based contact centres and digital banking via mobile app and online.
Metro Bank Holdings PLC (registered in England and Wales with company number 14387040, registered office: One Southampton Row, London, WC1B 5HA) is the listed entity and holding company of the Metro Bank group.
Metro Bank PLC (registered in England and Wales with company number 6419578, registered office: One Southampton Row, London, WC1B 5HA) is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. ‘Metrobank’ is a registered trademark of Metro Bank PLC. Eligible deposits are protected by the Financial Services Compensation Scheme. For further information about the Scheme, refer to www.fscs.org.uk.
Metro Bank is an independent UK bank – it is not affiliated with any other bank or organisation. Please refer to Metro Bank using the full name.
