07:20 AM EDT, 07/26/2024 (MT Newswires) -- NatWest Group ( NWG ) said Friday it has agreed to acquire a 2.5 billion pound ($3.22 billion) portfolio of prime UK residential mortgages from Metro Bank

Metro Bank said separately the purchase price was up to 2.4 billion pounds in cash.

The acquired portfolio of mortgages has a weighted average current loan to value of around 62%, the banks said.

Following the transaction, NatWest ( NWG ) said it will have 10,000 customer accounts that will continue to be serviced by Metro Bank.

The transaction is expected to be closed during H2.

NatWest ( NWG ) shares rose by more than 5% in US premarket trading on Friday.

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