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Metro Bank signals progress across loan book after Q1 lending slump

April 28 (Reuters) - Metro Bank reported on Wednesday a 17% plunge in lending for the first quarter when the UK was grappling with coronavirus lockdowns, though the British lender said it was starting to see progress across its loan book.

The company, among the highest profile so-called challenger banks since it launched on high streets in 2010, said total net loans fell to 12.05 billion pounds ($16.73 billion) for the first three months of 2020, versus 14.51 billion pounds a year earlier.

$1 = 0.7203 pounds Reporting by Muvija M in Bengaluru and Iain Withers in London, Editing by Sherry Jacob-Phillips

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