Metro Bank sells residential mortgage portfolio to NatWest for $3 bln
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Metro Bank has sold its portfolio of prime residential mortgages to NatWest Group for $3.1 billion in cash. The sale is expected to reduce Metro's risk-weighted assets and improve its Common Equity Tier 1 ratio. Metro Bank, which launched to challenge big banks, has implemented cost cuts to improve its balance sheet. However, the bank will realize a loss of £105 million on the completion of the sale.
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