February 26, 2020 / 7:19 AM / in a month

BRIEF-Metro Bank posts $170 million full-year pretax loss

Feb 26 (Reuters) - Metro Bank PLC:

* UNDERLYING LOSS BEFORE TAX OF £11.7 MILLION (2018: £50.0 MILLION PROFIT)

* STATUTORY LOSS BEFORE TAX OF £130.8 MILLION (2018: £40.6 MILLION PROFIT)

* RESULTS FOR YEAR ENDED 31 DECEMBER 2019

* STRONG CAPITAL POSITION WITH COMMON EQUITY TIER 1 (CET1) RATIO OF 15.6% (2018: 13.1%).

* SURPASSED 2.0 MILLION CUSTOMER ACCOUNTS (2018: 1.6 MILLION).

* STRATEGIC PLAN REVISED TO ACHIEVE STATUTORY ROTE >8.5% BY 2024:

* CEO - OUR FINANCIAL PERFORMANCE REFLECTS A VERY CHALLENGING YEAR FOR METRO BANK

* 21% GROWTH IN RETAIL AND SME CORE DEPOSITS TO £10.2 BILLION (2018: £8.4 BILLION) Source text for Eikon: Further company coverage: (Reporting By Sinead Cruise)

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