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Britain’s Metro Bank sells 584 million pounds unsecured personal loan book

Portfolio-buyer yet to be named

FILE PHOTO: People walk past a Metro Bank in London, Britain, May 22, 2019. REUTERS/Hannah McKay/File Photo

International news via Reuters:

British lender Metro Bank on Wednesday said it has signed an agreement to sell a portfolio of about 584 million pounds ($738.88 million) of unsecured personal loans.

A spokesperson of the bank declined to comment on who had bought the portfolio.

The transaction is expected to result in a gain of about 11 million pounds, Metro Bank said.

($1 = 0.7904 pounds)

Reporting by Chandini Monnappa, Iain Withers and Yamini Kalia; Editing by Varun H K

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