Britain’s Metro Bank (MTRO.L) reported a modest dip in lending in the first quarter and a 77 million pounds rise in total deposits to 14.6 billion pounds ($ 18.15 billion) as customers shrugged off lower fixed term deposit rates.

The lender said the impact of the COVID-19 pandemic on customers was difficult to predict with any certainty and it would provide an update on the economic consequences at its half-year results.

First quarter total deposits came in at 14.5 billion pounds while total net loans were also 14.5 billion pounds, some 169 million pounds below the Dec. 31 position.

The bank’s loan to deposit ratio fell to 100% at the end of the quarter.

Metro said its capital ratios remained in excess of the regulatory minimum having controlled growth in risk weighted assets.