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Report: UK high street lender Metro Bank halts commercial property lending

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Report: UK high street lender Metro Bank halts commercial property lending

Metro Bank PLC has ceased lending to commercial property developers to focus on small businesses and residential mortgages in a bid to bolster its finances, unnamed sourced told The Sunday Times.

The high street lender's commercial property and business lending comprise a third of its total loan book, the June 2 report noted. The commercial property portfolio is at the center of the troubled bank's accounting blunder, which has led to a decline in its share price and a recent £375 million emergency capital hike.

Metro Bank reportedly said it remains committed to other commercial lending activities such as asset finance.