Metro Bank PLC Conclusion of PRA investigation (4702W)
22 Dicembre 2021 - 8:09AM
UK Regulatory
TIDMMTRO
RNS Number : 4702W
Metro Bank PLC
22 December 2021
22 December 2021
Metro Bank PLC ("Metro Bank")
Legal Entity Identifier: 213800X5WU57YL9GPK89
Conclusion of PRA investigation
The Board of Metro Bank notes the conclusion of the Prudential
Regulation Authority's ("PRA") investigation, imposing a financial
penalty of GBP5,376,000 for breaching Fundamental Rules 2 and 6 of
the PRA Rulebook prior to 23 January 2019. Metro Bank has
cooperated fully with the PRA's investigation and agreed the
resolution of this matter with the PRA.
In the time since the RWA errors that were the basis of the
PRA's investigation were identified, Metro Bank has made
significant improvements to, and substantial investment in, its
regulatory reporting processes and controls. It has also
strengthened its broader risk management and governance,
demonstrating its commitment to accurate regulatory reporting and
compliant growth.
There is no update on the Financial Conduct Authority's ("FCA")
investigation at this time.
ENDS
Enquiries
For further information please contact:
Investor Relations
Jo Roberts
+44 (0) 20 3402 8900
ir@metrobank.plc.uk
Media Relations
Tina Coates
+44 (0) 7811 246016
pressoffice@metrobank.plc.uk
Teneo
Charles Armitstead
+44 (0) 7703 330269
metrobank@teneo.com
About Metro Bank
Metro Bank services more than two million customer accounts and
is celebrated for its exceptional customer experience. It is the
highest rated high street bank for overall service quality and best
bank for service in-store for personal and business customers, in
the Competition and Market Authority's Service Quality Survey in
August 2021. It was recognised as 'Bank of the Year' at the 2020
MoneyAge Awards and 'Banking Brand of The Year' at the Moneynet
Personal Finance Awards 2021, received Gold Award in the Armed
Forces Covenant's Employer Recognition Scheme 2021 and won Best
Open Banking Partnership - Commercial at the inaugural Open Banking
Expo Awards 2021.
The community bank offers retail, business, commercial and
private banking services, and prides itself on giving customers the
choice to bank however, whenever and wherever they choose, and
supporting the customers and communities it serves. Whether that's
through its network of 78 stores open seven days a week, 362 days a
year; on the phone through its UK-based 24/7 contact centres; or
online through its internet banking or award-winning mobile app:
the bank offers customers real choice.
Metro Bank PLC. Registered in England and Wales. Company number:
6419578. Registered office: One Southampton Row, London, WC1B 5HA.
'Metrobank' is the registered trademark of Metro Bank PLC.
It is authorised by the Prudential Regulation Authority and
regulated by the Financial Conduct Authority and Prudential
Regulation Authority. Most relevant deposits are protected by the
Financial Services Compensation Scheme. For further information
about the Scheme refer to the FSCS website www.fscs.org.uk. All
Metro Bank products are subject to status and approval.
Metro Bank PLC is an independent UK bank - it is not affiliated
with any other bank or organisation (including the METRO newspaper
or its publishers) anywhere in the world. Please refer to Metro
Bank using the full name.
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END
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