Metro Bank PLC Conclusion of FCA proceedings (3585J)
12 Dicembre 2022 - 9:14AM
UK Regulatory
TIDMMTRO
RNS Number : 3585J
Metro Bank PLC
12 December 2022
Metro Bank PLC (LSE: MTRO LN)
12 December 2022
Metro Bank PLC ("Metro Bank")
Legal Entity Identifier: 213800X5WU57YL9GPK89
Conclusion of FCA proceedings
Metro Bank ("the Company") notes today's publication of the
Financial Conduct Authority's ("FCA") decision that concludes its
proceedings into the Company's historic Risk Weighted Assets
("RWA") disclosures.
Metro Bank has cooperated fully with the FCA investigation and
accepts the outcome. The GBP10 million fine is within the range
outlined at the Company's Full Year 2021 results and has been fully
provided for.
Since 2018, Metro Bank has completed extensive remediation
activity and made substantial investment to improve its disclosure
procedures as well as enhancing its regulatory reporting processes,
risk management framework and governance and compliance culture
more broadly.
The conclusion of these proceedings and of the Prudential
Regulatory Authority's investigation in December 2021 brings the
RWA legacy issues to a close. Moving forward, this represents an
important milestone and allows the Company to remain focused on
supporting its colleagues and the customers and communities it
serves, and sustaining its profitable growth trajectory.
ENDS
For more information, please contact:
Metro Bank PLC Investor Relations
Jo Roberts
+44 (0) 20 3402 8900
IR@metrobank.plc.uk
Metro Bank PLC Media Relations
Mona Patel
+44 (0) 7815 506845
pressoffice@metrobank.plc.uk
Teneo
Charles Armitstead / Haya Herbert Burns
+44 (0)7703 330269 / +44 (0) 7342 031051
Metrobank@teneo.com
About Metro Bank
Metro Bank services 2.6 million customer accounts and is
celebrated for its exceptional customer experience. It is the
highest rated high street bank for overall service quality for
personal customers and the best bank for service in-store for
personal and business customers, in the Competition and Market
Authority's Service Quality Survey in August 2022. This year it has
been awarded "Best Mortgage Provider of the Year" in 2022 MoneyAge
Mortgage Awards, "Best Business Credit Card" in 2022 Moneynet
Personal Finance Awards and "Best Current Account for Overseas Use"
by Forbes 2022 and accredited as a top ten Most Loved Workplace
2022. It was "Banking Brand of The Year" at the Moneynet Personal
Finance Awards 2021 and received the Gold Award in the Armed Forces
Covenant's Employer Recognition Scheme 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 76 stores open seven days a week, 362 days a
year; on the phone through its UK-based 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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December 12, 2022 03:14 ET (08:14 GMT)
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