Metro Bank Holdings PLC: Third Quarter 2026 Trading Update

Metro Bank Holdings PLC Trading Update Q3 2026 4 November 2026   Metro Bank Holdings PLC (LSE: MTRO LN) (“Metro Bank”) Legal Entity Identifier: 984500CDDEAD6C2EDQ64 Third Quarter 2026 Trading Update       Strong progress delivering against strategy     Continued growth in target lending segments, up 37% year-on-year, as Metro Bank wins further market share. Relationship network generating significant deal flow, supporting focus on maximising risk-adjusted returns Structural NIM[1] expansion, up 42bps year-on-year to 3.45%- already within full year guidance range Clear path for further NIM and RoTE expansion across Q4 2026 and 2027 supported by the maturity of fixed-rate treasury assets and continued asset rotation Strong credit quality maintained, with low arrears and resilient performance across all segments. The portfolio remains highly collateralised, predominantly backed by property Relationship-based model continues to support growth of business and personal current account balances. Strong liquidity enables disciplined management of higher-cost non-relationship deposits in a competitive UK funding market, supporting the lowest Cost of Deposits of any UK High Street bank Reaffirming all guidance, including RoTE greater than 13% in Q4 2026, greater than 15% in 2027, and greater than 18% in 2028     Daniel Frumkin, Chief Executive Officer at Metro Bank, said:   “Metro Bank’s Q3 results show a business that is executing consistently and with conviction. We are winning market share in our target segments, with loan growth up 37% year-on-year, as we expand relationships with the businesses that drive UK growth. Our exit NIM of 3.45% is already within our full-year guidance range, demonstrating the quality and pace of the balance sheet rotation we have been delivering.   Credit quality remains strong, our cost of deposits is the lowest of any UK High Street bank, and the active management of our run-off loan portfolio continues to free up capital and liquidity to put to work in our target segments. The combination of lending growth in higher-yielding segments, structural NIM expansion and a disciplined approach to costs means that the Bank continues to deliver operating leverage. We enter the final quarter of the year with confidence and clear momentum and reaffirm all guidance.”       Key Financials  

£ in millions	Q3 2026	Q3 2025	Change from Q3 2025	H1 2026	Change from H1 2026
Total assets	£16,674	£16,247	3%	£17,025	(2%)
Gross loans and advances to customers	£9,425	£8,988	5%	£9,208	2%
Less: allowance for impairment	(£131)	(£171)	(23%)	(£134)	(2%)
Net loans and advances to customers	£9,294	£8,817	5%	£9,074	2%
Deposits from customers	£13,028	£13,207	(1%)	£13,216	(1%)
Net loan to deposit ratio	71%	67%	4ppts	69%	2ppts
Gross loans and advances to customers consists of:
Target segments	£6,619	£4,838	37%	£6,183	7%
Total run-off books	£2,806	£4,150	(32%)	£3,025	(7%)

    Target lending segments of Corporate, Commercial, and SME lending and Specialist Mortgages grew strongly, up 37% year-on-year and 7% quarter-on-quarter. Total net loans at Q3 2026 were £9.3 billion.   In line with strategy, run-off lending reduced by 32% year-on-year, freeing up capital and liquidity to reinvest in target segments. Total gross loans grew 5% year-on-year.   Credit quality remains strong, with the portfolio highly collateralised and appropriately provisioned; arrears rates remain low.   Total customer deposits at Q3 2026 were £13.0 billion. Underlying momentum in the franchise remains strong, with growth in retail and business current account balances offset by the active management of excess high-cost non-relationship deposits to optimise cost of funds.   Metro Bank continues to have the lowest Cost of Deposits of any UK High Street bank.   Net loan to deposit ratio at Q3 2026 was 71%, providing significant capacity for asset growth and disciplined liquidity management.       Enquiries   For more information, please contact:   Metro Bank PLC Investor Relations Daniel Ainscough +44 (0) 20 3402 8900 IR@metrobank.plc.uk   Metro Bank PLC Media Relations Victoria Gregory +44 (0) 7773 244 608 pressoffice@metrobank.plc.uk   FGS Global Mike Turner +44 (0) 7766 360900 Metrobank-lon@fgsglobal.com   ENDS     About Metro Bank Metro Bank provides corporate, commercial and SME banking and specialist mortgage lending, alongside retail and private banking services. Metro Bank offers relationship banking through a network of 78 stores in the UK, telephone banking from UK-based contact centres and digital banking via mobile app and online. Metro Bank Holdings PLC (registered in England and Wales with company number 14387040, registered office: One Southampton Row, London, WC1B 5HA) is the listed entity and holding company of the Metro Bank group. Metro Bank PLC (registered in England and Wales with company number 6419578, registered office: One Southampton Row, London, WC1B 5HA) is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. ‘Metrobank’ is a registered trademark of Metro Bank PLC.  Eligible deposits are protected by the Financial Services Compensation Scheme. For further information about the Scheme, refer to www.fscs.org.uk. Metro Bank is an independent UK bank – it is not affiliated with any other bank or organisation. Please refer to Metro Bank using the full name.

[1] Net Interest Margin as at applicable period end