By Matteo Castia

 

Metro Bank PLC said Friday that it sold a mortgage portfolio to NatWest Group PLC for 3.13 billion pounds ($4.25 billion).

The bank said the portfolio consists of primarily repayment mortgages with an average remaining fixed-rate term of circa two and half years.

"The transaction is in line with Metro Bank's strategy to enhance risk-adjusted returns on capital through the ongoing focus on balance sheet optimization," the company said.

 

Write to Matteo Castia at matteo.castia@dowjones.com

 

(END) Dow Jones Newswires

December 18, 2020 13:56 ET (18:56 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.