Metro Bank PLC has begun preparing to scale down its corporate lending activities and shift its lending focus toward residential property, The Sunday Times reported.
The U.K. lender has done away with charging some commercial clients early termination fees, allowing them to pay off their loans ahead of time in a bid to trim its exposure to corporate lending, according to the Sept. 15 report. This comes as Metro Bank moves on from a controversial accounting blunder that has resulted in its removal from the FTSE 250 index, the newspaper added.
The bank said it laid out its "evolved strategy" earlier in February, explaining that it was "rebalancing its lending mix" to reduce its proportion of commercial real estate lending.
