Metro Bank Declines to Sell £3 Billion Mortgage Portfolio

Metro Bank Holdings Plc said it’s no longer considering the sale of a £3 billion ($3.8 billion) mortgage portfolio after it secured a rescue deal last month that shored up confidence in its shares and finances.

The bank’s board determined it was in the best interests of shareholders to retain the portfolio, according to a statement on Friday. Chief Executive Officer Daniel Frumkin had previously indicated that Barclays Plc was among the possible buyers of the loans.

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