July 22, 2019 / 6:15 AM / 4 months ago

Metro Bank confirms in talks on loan portfolio sale

July 22 (Reuters) - Metro Bank confirmed on Monday it was in talks on the sale of a loan portfolio, as the lender faces pressure to show it has turned the corner after a major loan book error wiped more than 1.5 billion pounds ($1.87 billion) off its market value.

Sky News reported here on Sunday that the troubled lender was readying a 500 million pound ($624.85 million) deal to‎ offload a mortgage portfolio back to U.S hedge fund Cerberus Capital Management. ($1 = 0.8002 pounds) (Reporting by Noor Zainab Hussain in Bengaluru; editing by Patrick Graham)

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