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AP-National

Shares in troubled British lender Metro Bank bounce back by a third as asset sale speculation swirls

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Published 6:33 AM

LONDON (AP) — Shares in the troubled British lender Metro Bank have bounced back by a third on reports that it has been sounding out bigger rivals to buy a chunk of its assets. Sky News reported Friday that advisers to the bank have contacted Lloyds Banking Group and NatWest Group among others. That helped the company’s share price rally by 30% to 48.5 pence on the London Stock Exchange. The bank has now recouped the losses sustained Thursday, when it acknowledged the need to raise new capital. Analysts have said that Metro Bank will need to raise  around 600 million pounds ($730 million).

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