LONDON, Aug 5(Reuters) - Britain's Metro Bank swung to a loss on Wednesday, as provisions to cover loan losses due to the coronavirus crisis hammered the lender.

The upstart bank, whose shares have collapsed since it disclosed an accounting scandal in January last year, said it made an underlying loss of 240 million pounds ($313.92 million)for the six months ended June from a 3.4 million pounds profit a year earlier.

Metro Bank, founded in 2015 to take on incumbent high street banks, on Monday said it has agreed to buy peer-to-peer lender RateSetter for an initial payment of 2.5 million pounds as it tries to improve its revenue sources. ($1 = 0.7645 pounds) (Reporting by Muvija M in Bengaluru and Lawrence White in London, editing by Sinead Cruise)