StockMarketWire.com - Challenger bank Metro Bank said its deposit and loan values slipped slightly in the third quarter compared to the second.

The value of its loan book edged down to £12.32 billion at the of September, down from £12.33 billion at the end of June.

Deposit volumes fell 1% to £16.41 billion and total assets fell 1% to £22.77 billion.

Metro Bank said it had seen growth in consumer unsecured lending and specialist mortgages, offset by the attrition of lower-yielding residential mortgages and commercial term loans.

'The bank has continued to deliver against its strategic priorities during the quarter,' chief executive Daniel Frumkin said.

'We have seen improvements in our lending mix from our expanded product offering.'

'We are seeing signs of a gradual return to normality and have adopted a hybrid way of working for office-based colleagues.'

'We remain focused on executing on our plans and returning the Bank to sustainable profitable growth.'


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