Company
Metro Bank Holdings PLC
LON:MTRO
Metro Bank is a revolutionary high street bank that provides our customers with unparalleled levels of service and convenience. Founded in 2010, we were the UK’s first new high street bank in more than 100 years. Through our unique customer-focused business we are reinventing the rules of retail banking to make things simpler and more convenient, and provide customers with an amazing banking experience.
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FTSE 100: Shares close higher as UK GDP rebounds; TikTok faces US ban
London's blue-chip index rose in early trading on Wednesday but lost momentum
Metro Bank rescue deal approved, rumour of mortgage book sale
Shareholders voted for the rescue plan on Monday, with further rumours suggesting a sale of Metro's mortgage book to Barclays
FIVE at FIVE: Metro woes; record rents; FTSE up; Imperial Brands stays positive; Barclays layoffs
Here’s Proactive’s round-up of the top financial stories of the day, with helpful links taking you directly to the news
Archive
FTSE 100 Live: Stocks close in the green as bond yields ease
At the close London's leading index was up 39.09 points, 0.5%, at 7,451.54 while the FTSE 250 was up 107.08 points, 0.6%, at 17,599.98
Metro Bank fined £10mln for publishing incorrect information
The challenger bank was aware at the time of publication that the figure was wrong and failed to qualify or explain
Metro Bank returns to profit in September
The challenger bank said it remains "watchful of economic conditions" but its lending book "remains in good health"
UK taxpayer liable to pick up the tab on up to £2bn of defaulted Covid-19 loans
The British Business Bank has so far settled £420mln of claims made by lenders under the loan guarantee scheme
Metro Bank on track for breakeven but remains wary of macro environment
The bank also more than halved its underlying loss before tax to £48mln
Metro Bank trims losses as turnaround plans pick up pace
Losses down by 37% as net interest margins grow stonger in tail end of 2021
Metro Bank fined £5.4mln over reporting failures
The Bank of England said Metro Bank had presented an inaccurate picture of its regulatory capital position to the Prudential Regulation Authority
Metro Bank shares tank as Carlyle ends bid talks
The bank's board said it “continues to strongly believe in the standalone strategy and future prospects of Metro Bank”
Metro Bank shoots higher after confirming takeover talks with US private equity group
Shares in the challenger bank shot up 40% on the news
OnlyFans makes U-turn on policy change plans
The online platform had planned to remove all sexually explicit content, causing huge backlash
Metro Bank slides as coronavirus inflicts heavy losses
The company reported an underlying pre-tax loss of £271.8mln for 2020, much wider than the £11.7mln loss a year ago, driven primarily by a £124mln charge from the effects of COVID-19
Metro Bank buys RateSetter back book at par value
The portfolio has an average total gross yield of close to 8% and an average weighted loan term of two years remaining
Metro Bank sells £3bn mortgage book to NatWest Group
On completion, the disposal is expected to improve Metro Bank’s liquidity ratios significantly
Metro Bank sees rise in lending as activity levels recover
Lending increased in the quarter with the loan book standing at £15.1bn at end September
Metro Bank swings to loss after opening six new branches in first half
“While the pandemic has weighed heavily on our financial performance, we've made early progress delivering against the strategic priorities set out in February,” said CEO Daniel Frumkin
Metro Bank to expand unsecured lending after RateSetter acquisition
Most of RateSetter's business is unsecured personal loans but the platform also arranges secured auto dealer and property financing.
Metro Bank confirms interest in P2P platform Ratesetter
The challenger bank said it has entered a period of exclusive discussions
Metro Bank says deposits grew in March but lending curtailed
Net loans were down £169mln over the quarter as the lender said it undertook “proactive management of lending growth”
Metro Bank to hand back £50mln competition grant as new CEO cuts back
Metro racked up losses of £131mln in 2019 with a dip in underlying revenue to £400.1mln.
Metro Bank’s new CEO to reveal the extent of the damage in next week’s results
The bank has concluded a dismal year which saw profits plunging following an accounting scandal
Metro Bank makes transformation officer its permanent boss
Dan Frumkin replaces Craig Donaldson, who left the bank after ten years on the post following a dismal 2019
What investors should expect from a hung parliament
Should Boris Johnson's Conservatives fall short of the seats needed to form a government in tomorrow's election, there are some scenarios traders should take note of in order to secure their cash in the face of more uncertainty
Metro Bank bounces as Lloyds rumoured to be considering bid
A takeover might be welcomed by regulators given Metro's fragile financial position following an accounting blunder earlier this year
Metro Bank jumps on search for "right balance" of growth
The company has been under fire after a massive accounting blunder in January still affecting its financial performance and reputation nine months later
Metro Bank founder steps down early
Vernon Hill remains as a non-executive director until 31 December and will then be given an honorary title
Metro Bank investors lap up bond issue and founder's exit
The dog-friendly challenger bank said it launched the much-needed £300mln bond issue offering a coupon of 9.50%
Short-sellers raise bets against Metro Bank after chairman steps down
Short-sellers have been raising bets against Metro Bank PLC (LON:MTRO) as the lender seeks to rebuild its reputation after an accounting scandal. The bank is the ninth most-shorted company on the London Stock Exchange with 7.6% of its share
Metro Bank in talks to sell loan portfolio amid concerns about financial position
“The company regularly assesses various opportunities in the market and accordingly confirms that discussions regarding the potential sale of a loan portfolio are taking place," Metro Bank said.
Lloyds and banking rivals 'going nowhere' amid new pressures on revenue and margins
Adding to mortgage market competition, analysts now expect pressure on deposit pricing and declining contributions from structural hedges
Archive
FTSE 100 closes in the red as global equity markets lag
The UK's premier shares index finished the afternoon session off nearly 31 points at 7,367
Builders and building materials
Kier gives short-sellers a boost after profit warning sends shares crashing
About 4.75% of Kier’s shares are on loan to short sellers, according to website www.shorttracker.co.uk
Tesco Bank and Nationwide highlight impact of competitive pressures on wider banking sector
First-quarter results from Lloyds, Barclays, Royal Bank of Scotland and HSBC all revealed a drop in net interest margins - a key profit measure for banks.
Weeks after investing in Sirius Minerals, Norway’s sovereign wealth fund takes stake in Metro Bank
The fund, thought to be the largest of its kind in the world, has taken a 3.1% stake in Metro Bank, which had to tap the market for more money last week to shore up its balance sheet
Investments and investor services
Thomas Cook slumps again as debt-for-equity swap or emergency rights issue is expected
A look at the day's major movers, including Future, Capital & Regional, Tiger Resource, Metro Bank, eve Sleep, Maistro and Staffline
Metro Bank raises £375mln in less than three hours to bolster balance sheet
The challenger bank closed the fundraising early on Thursday evening after the placing was “significantly oversubscribed”
Investor rebellions in store for Lloyds, Metro Bank and G4S meetings
Ahead of Metro Bank's AGM, American founder Vernon Hill urged investors to “meet with the directors and express your views by attending, raising questions and voting”
Investments and investor services
ClearStar Inc rises after reporting record revenues
A look at the day's major movers, including Touchstone Exploration, Widecells, Eight Peaks, Quadrise, Europa Metals, Wey Educations, CyanConnode and Metro Bank
Metro Bank confirms plans for £350mln equity raise after 'false rumours' about financial health
Metro Bank has insisted it is a "profitable bank" and there is "no truth" to the messages circulating online about its financial stability
Metro Bank, the sector's lightning rod, escapes the bolts ... for now
After another short-seller squeeze yesterday, shares in Metro Bank have opened little changed today but more trouble could be coming down the turnpike, with shareholder advisory groups exhorting investors to make their feelings known at the
Metro Bank shares tumble as first quarter profits halve after loans scandal
Chief executive Craig Donaldson said it had been a “challenging” quarter
Barclays upgrades Virgin Money owner CYBG to 'equal weight' but still prefers Lloyds and RBS
Barclays also initiated coverage of Metro Bank at ‘underweight’
FTSE 100 finishes lower as global markets hit by geopolitical worries
The UK's blue chip index closed down nearly 44 points at 7,107. Meanwhile, mid-cap cousin FTSE 250 fell more than 116 at 19,513
Archive
ITV finals take spotlight for ‘hump day’ results
Shareholders in the blue-chip broadcaster may be approaching the results with some trepidation after it expected a softer fourth quarter in a November update
Metro Bank the big winner from first round of £775mln RBS funding
Metro Bank has been awarded £120mln from Banking Competition Remedies, while Starling Bank and ClearBank bagged £100mln and £60mln, respectively
FTSE 100 closes higher on trade talk optimism; miners big winners
President Trump is due to sit down for talks with Chinese Vice Premier Liu He at around 7.30pm UK time
UK challenger banks to find out on Friday if they’ve secured slice of £775mln RBS pot
RBS is freeing up the cash as part of the conditions attached to its £45bn government bailout back in 2008
Archive
FTSE 100 closes higher as investors buoyed by trade talk optimism
The UK's premier share index added almost 58 points at 7,129, while the FTSE 250 also gained ground
Archive
Flybe investors bet on bigger takeover offer
Some of the main news-driven risers and fallers in London on Wednesday...
Metro Bank shares slump as 2018 profits miss expectations
Chief executive Craig Donaldson said 2018 was another strong year of growth for Metro Bank
Archive
FTSE 100 closes in the red as global market unease continues
Britain's blue-chip index closed over 58 points lower at 6,642, while the FTSE 250 was also down
Hedge funds target UK banks as Brexit deadline looms
One of those shorting UK banking stocks is Marshall Wace - founded by the father of Mumford & Sons’ lead guitarist, Winston Marshall
Citigroup boosts Metro Bank, upping rating to 'buy' from 'neutral' as risk/reward looks more balanced
However, the US bank cut its price target on the FTSE 250-listed stock to 2,590p from 3,040p to reflect a high sensitivity of valuation and lower assumed terminal growth
Investments and investor services
FTSE 100 keeps nose above water to finish in positive territory
Footsie finished Wednesday nearly eight points higher at 6,962.
Investments and investor services
Barclays treading water as activist investor pressure builds
The third quarter banking results season is upon us and Barclays is set to open the batting, more in the style of Keaton Jennings than Alastair Cook, according to many pundits
Archive
Third-quarter updates from Barclays, Lloyds Banking Group, and RBS all due in coming week
Aside from the banking trio, updates are also due in the week ahead from the likes of WPP, Whitbread, International Airlines Group, Ryanair, Glencore and Antofagasta
Metro Bank raises around £303mln via share placing to bolster regulatory capital requirements; trading strong
The FTSE 250-listed challenger bank revealed the accelerated book-built placing after the close on Tuesday when it also issued a first-half trading update showing strong growth in underlying profits
British challenger banks rise as CYBG’s £1.6bn bid for Virgin Money sparks talk of ‘inevitable consolidation’
Challenger banks have managed to take some customers away from the big players, but analysts reckon they might have to gang up if they’re to pose a more serious problem for Barclays, RBS and co
Stellar Diamonds shares leap as court approves its acquisition by NWF
A look at some of the biggest risers and fallers in London on Wednesday
Metro Bank unveils record quarterly profits after avoiding shareholder revolt
Metro reported a 406% jump in underlying pre-tax profit to £10mln in the first three months of 2018
FTSE 100 pares losses as US bond yields rise above 3%
Resource stocks suffer as US dollar makes headway on forex markets
Archive
Big results day for banks and drugs as Lloyds and GlaxoSmithKline step up to the plate
Day ahead includes first-quarter updates from blue chip firms Lloyds Banking Group, GlaxoSmithKline, Whitbread, and Persimmon ...
Metro Bank faces shareholder rebellion over payments to firm owned by chairman's wife
An investor of Metro Bank plans to vote against the reappointment of Vernon Hill as chairman at the annual shareholder meeting later this month
Metro Bank shares drop as fall in net interest margin overshadows swing to pretax profit
Metro Bank's net interest margin slipped slightly to 1.93%, down from 1.97% the year before, with its operating expenses rising to £231.4mln
Deutsche Bank and Citi warn of margin pressures facing UK challenger banks
Deutsche kicked off research coverage of Virgin Money and CYBG with a ‘hold’ and ‘sell’ recommendation respectively, while Citi analysts moved Metro to ‘neutral’ but only to bring it in line with its stance on the sector as a whole