Natwest shares rise after strong results and deal for part of Metro Bank’s mortgage book July 26, 2024 Natwest became the latest bank to report a fading boost from higher interest rates as it announced the acquisition of part of Metro Bank's mortgage book.
Metro Bank revives multibillion-pound mortgage sale after rescue July 8, 2024 Metro Bank has revived a plan to sell a multibillion-pound chunk of its mortgage book after being rescued from potential collapse last year.
Metro Bank reports £500m drop in lending as it pivots to higher-margin products April 30, 2024 Metro Bank has reported a fall in lending at the start of 2024 but saw a rise in deposits as it looks to rebound from potential collapse last year.
Metro Bank cancels bonuses for all executives after turbulent year and rescue April 17, 2024 Metro Bank has cancelled the bonuses of all its executive directors following a turbulent 2023.
Bank of England examining claim Metro Bank put customers’ money at risk with ‘pirated software’ April 2, 2024 The Bank of England is examining a claim that Metro Bank “pirated” a US company's software and put customers’ data at risk, City A.M. has learnt.
Metro Bank swings to first annual profit since 2018 while slashing 1,000 jobs March 13, 2024 Metro Bank has swung to its first annual profit since 2018 after the branch-focused lender was rescued from potential collapse by a major refinancing package and embarked on a restructuring set to involve 1,000 job cuts.
Metro Bank’s costs in focus as lender embarks on major restructuring March 9, 2024 Investors will be looking for more clues on Metro Bank's revamped strategy next week as the lender prepares to draw a line under a year that saw it rescued from potential collapse.
Metro Bank brings in Barclays executive as new CFO amid major restructuring February 29, 2024 Metro Bank has appointed Barclays executive Marc Page as its new chief financial officer as the lender undergoes a major restructuring designed to shore up its balance sheet.
Colombian billionaire who rescued Metro Bank appoints himself to board January 24, 2024 Jaime Gilinski Bacal, the Colombian billionaire who led a major refinancing package for struggling Metro Bank, has appointed himself to its board as a non-executive director. As part of the deal struck between the lender and the banking tycoon last year, Bacal and his firm, Spaldy Investments, are entitled to appoint up to three directors [...]
Top business disasters of 2023: City A.M. reflects on the biggest corporate mishaps of the year December 30, 2023 Here at City A.M., we’re taking some time to reflect on some of the biggest c*ck-ups in business in the last 12 months.