With the acquisition of the prime UK residential mortgage portfolio, the bank hopes to add about 10,000 new client accounts, all of which Metro Bank will continue to serve.

NatWest's shares rose 8% as a result of both this news and its Q2 results.

After a £600 million refinancing deal last year that included talks about selling its mortgage portfolio, the acquisition helps Metro Bank.

"This transaction is a further opportunity to accelerate the growth of our Retail mortgage book within our existing risk appetite, with attractive returns," stated Paul Thwaite, CEO of NatWest Group. It builds on our most recent purchase from Sainsbury's Bank and is consistent with our strategic aims.

The bank's forced expenditure of £24 million on the canceled "Tell Sid" advertising campaign, which starred Sir Trevor McDonald, was also disclosed in their results statement. The 2008 bailout is the source of the responsibility to finance this campaign. The declaration of a general election led to the cancellation of that campaign, even though the advertisements had already been recorded.