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Metro Bank buys peer-to-peer lender RateSetter

Published 03/08/2020, 07:49
Updated 03/08/2020, 07:50
© Reuters. FILE PHOTO: People walk past a Metro Bank in London

LONDON (Reuters) - Metro Bank has agreed to buy peer-to-peer lender RateSetter for an initial payment of 2.5 million pounds, it said on Monday.

An additional 500,000 pounds will be paid 12 months after completion subject to the satisfaction of certain criteria and up to 9 million pounds on the third anniversary of completion, subject to performance criteria, Metro said in a statement.

 

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