JPMorgan Chase considered possible offers for Metro Bank before deciding not to proceed due to the additional capital a new buyer would have to bring in, the Financial Times reported on Sunday.
The deal is understood to have been reached through JPMorgan’s UK digital banking arm Chase UK, the FT added.
British lender Metro Bank on Saturday rejected a number of takeover options from specialist corporate lender Shawbrook and later held talks with bondholders over a capital injection along with a debt restructuring, according to media reports.
Metro Bank has been considering a number of financing options after a series of setbacks in recent years, including accounting errors, executive departures and delays in regulatory approval of large capital relief.
Reuters previously reported that Metro Bank would discuss financing options with its shareholders at the weekend as the bank tries to shore up its finances and reassure regulators after a volatile week of trading. (Reporting by Kanjyik Ghosh in Bengaluru; Editing by Hugh Lawson)
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