Ernst And Young Initiates Contact With Lenders In Quest To Discover Prospective Buyer For Metro Bank
Ernst & Young, the consulting firm, has been enlisted to seek a potential buyer for Metro Bank Holdings Plc, as the challenger bank endeavors to fortify its financial position. Sources familiar with the matter have indicated that the advisor is in discussions with several lenders with the goal of reaching an agreement before the markets open on Monday. These sources, who requested anonymity, cited the Bank of England's vigilance over the situation.
Among the lenders approached, JPMorgan Chase & Co. was considered but has opted not to pursue the opportunity, according to one of the sources. It's worth noting that Metro Bank had previously entertained merger discussions with another mid-tier bank, Shawbrook, although these talks did not advance. Nevertheless, Shawbrook maintains ...