Metro Bank (MTRO) Q3 2026 TU earnings summary

Executive summary

• Target-segment lending grew 37% YoY; exit NIM reached 3.45%, already within FY guidance, with strong credit quality and operating leverage.

• All guidance reaffirmed, including ROTE above 13% in Q4 2026, above 15% in 2027 and above 18% in 2028.

Financial highlights

• Total assets were £16.674bn, up 3% YoY; gross loans were £9.425bn, up 5% YoY.

• Net loans were £9.294bn, up 5% YoY; customer deposits were £13.028bn, down 1% YoY.

• Impairment allowance was £131m, down 23% YoY.

Outlook and guidance

• NIM and ROTE expansion expected through Q4 2026 and 2027, supported by fixed-rate treasury asset maturities and continued asset rotation.

• ROTE guidance reaffirmed: above 13% in Q4 2026, above 15% in 2027 and above 18% in 2028.