British lender Metro Bank Plc's first-quarter underlying loss after tax narrowed, driven by strong growth in residential mortgages and commercial lending.
Lender Metro Bank's Q1 loss narrows
Net lending more than doubled to 4.1 billion pounds. Total deposits jumped 75 percent to 5.9 million pounds.
The company, Britain's first new High Street bank in over 100 years, said underlying loss after tax narrowed to 7.9 million pounds ($11.3 million) in the quarter ended March 31, from 8.5 million pounds a year earlier.
Metro Bank, which listed on the London Stock Exchange in March, said total revenue rose 60 percent to 37.7 million pounds.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
Recommended articles
National Assembly to make law that'll make university admission illegal for under 18
Ganduje describes his purported suspension from APC as African drama
Minister of Education summons Lead British School management over bullying scandal
Coalition backs Tinubu's policies, security interventions, other reforms
Kano ranked as worst-governed state in Nigeria
EFCC boss vows to resign if Yahaya Bello is not prosecuted
EFCC arrests ex-aviation minister Sirika for ₦8bn Nigerian Air scandal
Ex-APC spokesperson backs EFCC's hunt for Yahaya Bello
Woman suffering incurable disease finally gets her wish to choose how she dies
ADVERTISEMENT