Metro Bank eyes peer-to-peer lender swoop

Metro Bank has confirmed that it is in talks to buy Leicester based Ratesetter.

Ratesetter is a peer-to-peer lender, which has a substantial office at the Osiers Business Park in Leicester.

Metro Bank said in a statement: “The company regularly assesses various opportunities in the market and accordingly confirms that it has entered in to a period of exclusivity with RateSetter, but discussions regarding the potential acquisition are at an early stage.

“There can be no certainty at this stage that a formal agreement will be reached, nor as to the terms of any agreement. A further announcement will be made if and when appropriate.”