Metro Bank completed the acquisition of RateSetter for $16m.

Metro Bank, a retail and commercial bank, completed the acquisition of RateSetter, a British peer-to-peer lending company based in London, for $16m. "The ability to enhance our offer of unsecured lending to our customers is an important strategic ambition as we continue to evolve the Bank and increase our returns. RateSetter is an established business with a strong technology platform and a talented team who have deep experience in the consumer unsecured lending market. This acquisition therefore accelerates our plans, helps us to better meet the needs of our customers and further strengthens our position as the UK's best community bank," Daniel Frumkin, Metro Bank CEO.