UK regulator ‘welcomes’ Metro Bank capital injection
Colombian banker becomes majority shareholder of struggling lender
UK regulators welcomed news that Metro Bank, a troubled mid-sized retail lender, has obtained £925 million ($1.125 billion) in new financing.
The Prudential Regulation Authority (PRA) issued a one-sentence statement on October 8, saying it “welcomes the steps taken by Metro Bank to strengthen its capital position”. Metro Bank had to scramble for more capital after the PRA withheld permission last month for the bank to use internal models to calculate the riskiness of its mortgages.
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