Obtains 10,000 customer accounts (Il Sole 24 Ore Radiocor) - London, 26 Jul - The UK bank NatWest said that it has entered into an agreement to acquire a 2.5 billion pound portfolio of prime UK residential mortgages, with a weighted average current loan to value of about 62%, from Metro Bank.

On completion of the transaction, NatWest expects to welcome around 10,000 customer accounts which will continue to be serviced by Metro Bank, following the transfer to NatWest Group.

"This transaction is a further opportunity to accelerate the growth of our Retail mortgage book within our existing risk appetite, with attractive returns. It is in line with our strategic priorities and builds on our recent acquisition from Sainsbury's Bank," said Paul Thwaite, the CEO of NatWest Group.

The impact of the transaction, based on NatWest Group's CET1 ratio at June 30, equates to a reduction of less than 10 basis points, it added.

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(RADIOCOR) 26-07-24 12:26:51 (0339) 5 NNNN