Metro Bank Holdings H1 Revenue Surges 22% YoY

(RTTNews) - Metro Bank Holdings Plc (MTRO.L), on Wednesday, reported an underlying profit before tax of GBP45 million for the first half of 2025, which is more than triple the profit recorded in the second half of 2024. This improvement was driven by higher net interest income and continued cost reductions. In comparison, the first half of 2024 saw an underlying loss of GBP27 million.

The statutory profit before tax for the six months ended 30 June 2025 was GBP43 million, reversing a loss of GBP34 million in the same period last year. Statutory profit after tax for the half-year was GBP30 million, compared to a loss of GBP33 million in the first half of 2024.

Underlying net interest income rose by 8 percent on a half-on-half basis to GBP223 million, up from GBP172 million in the first half of 2024. This reflects a strategic shift toward higher-yielding assets and a reduction in the cost of deposits.

Total underlying revenue increased to GBP286.1 million, compared to GBP234.0 million in the prior-year period.

The net interest margin for the first half of 2025 was 2.87 percent, significantly higher than the 1.64 percent recorded in the first half of 2024. The exit net interest margin stood at 2.95 percent, already approaching the bank's guidance range of 3.00 percent to 3.25 percent by December 2025. These structural improvements in net interest margin are attributed to lower deposit costs and enhanced asset yields.