Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2021
Metro Bank fined £5.4m for reporting failures
Fine or penalty
The Bank of England's Prudential Regulation Authority fined Metro Bank £5.4 million for failures in its reporting duties, citing errors in regulatory reporting and related oversight, controls and resourcing. Metro Bank said it had improved its reporting processes and controls and strengthened risk management and governance.
Company response
Remediation — Metro Bank
In the time since the RWA errors that were the basis of the PRA’s investigation were identified, Metro Bank has made significant improvements to, and substantial investment in, its regulatory reporting processes and controls.
Remediation — Metro Bank
It has also strengthened its broader risk management and governance, demonstrating its commitment to accurate regulatory reporting and compliant growth.
Source excerpt
Specifically, the PRA says the bank made four errors in its Commons Reporting.
It has also strengthened its broader risk management and governance, demonstrating its commitment to accurate regulatory reporting and compliant growth.
The Bank of England (BoE)’s Prudential Regulation Authority (PRA) has hit Metro Bank with a £5.4m fine for failures in its reporting duty.
2019
Commercial-loan risk-weighting error
Metro Bank disclosed errors concerning the risk weighting of certain commercial loans. The matter caused substantial investor and regulatory concern and was followed by leadership changes, capital actions, and a review of the bank’s strategy and controls.