-- Metro Bank Holdings is in negotiations with larger lender Barclays to sell a 3 billion pound ($3.78 billion) portfolio of residential mortgages, Sky News reports citing unnamed sources.

-- The divestment is part of the London-listed high street bank's recent financial restructuring and would strengthen its capital position, Sky News reports.

-- In October, Metro Bank secured GBP925 million pounds in funding to shore up its balance-sheet. Shareholders are voting on Monday on the terms of the plan.

-- Barclays declined to comment. Metro Bank didn't immediately respond to Dow Jones Newswires' request for comment.

Full story: https://tinyurl.com/yvysncnd

Write to Elena Vardon at elena.vardon@wsj.com

(END) Dow Jones Newswires

November 27, 2023 08:19 ET (13:19 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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