Advertisement
UK markets close in 1 hour 7 minutes
  • FTSE 100

    7,974.14
    +42.16 (+0.53%)
     
  • FTSE 250

    19,886.21
    +75.55 (+0.38%)
     
  • AIM

    743.41
    +1.30 (+0.18%)
     
  • GBP/EUR

    1.1698
    +0.0029 (+0.25%)
     
  • GBP/USD

    1.2636
    -0.0002 (-0.02%)
     
  • Bitcoin GBP

    56,378.51
    +1,494.38 (+2.72%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • S&P 500

    5,254.12
    +5.63 (+0.11%)
     
  • DOW

    39,751.07
    -9.01 (-0.02%)
     
  • CRUDE OIL

    82.53
    +1.18 (+1.45%)
     
  • GOLD FUTURES

    2,233.30
    +20.60 (+0.93%)
     
  • NIKKEI 225

    40,168.07
    -594.66 (-1.46%)
     
  • HANG SENG

    16,541.42
    +148.58 (+0.91%)
     
  • DAX

    18,510.67
    +33.58 (+0.18%)
     
  • CAC 40

    8,221.25
    +16.44 (+0.20%)
     

Britain's Metro Bank returned to profit in September, sees no customer stress

FILE PHOTO: Signage is seen outside of a Metro Bank in London

LONDON (Reuters) - Metro Bank said on Wednesday it returned to profit in September by keeping a tight rein on costs and has so far seen no sign of increased stress among its customers as Britain grapples with higher interest rates and an escalating cost of living crisis.

The bank set aside a 10 million pound ($11.49 million) provision in case of losses on loans, and it expects its net interest margin to continue to increase through 2023 as interest rates climb.

"There has been no deterioration in early warning indicators and no signs of stress or increased delinquency across the customer base," the bank said in third quarter trading update.

($1 = 0.8703 pounds)

(Reporting by Huw Jones, editing by Sinead Cruise)