Metro Bank bondholders back refinancing plans despite significant haircut October 11, 2023 Metro Bank has secured approval from its bondholders to go ahead with major refinancing plans.
Metro Bank fundraise averts immediate threat – but what next? October 9, 2023 Metro Bank's emergency capital raise has reassured investors for the moment, but analysts warned the bank needed to develop a more convincing investment case if it is to survive.
Metro Bank share prices rises after bank strikes late-night deal to shore up balance sheet October 9, 2023 Metro Bank confirmed this morning that it had secured a major refinancing package from its investors after a bruising week in which the bank's share price fell nearly 30 per cent.
Metro Bank bosses summoned for meeting with City watchdogs after share price slump October 5, 2023 The bosses of Metro Bank have been called in to emergency meetings with the UK's financial watchdogs after its shares slumped over 20 per cent this morning.
Metro Bank share price falls after plans to reduce capital charge rebuffed by watchdog September 12, 2023 Metro Bank shares plummeted after the lender announced that plans to reform its calculation of capital requirements have been rebuffed by the banking watchdog.
Ranked: The best banks for customer service? Monzo and Starling steam ahead August 15, 2023 Which banks are the best for customer service? A new official ranking has been produced by the consumer regulator
Metro Bank swings back to profit in first half as boss Frumkin claims ‘strategy is working’ August 1, 2023 Metro Bank achieved profitability in the first half of 2023 as the bank’s recovery from an accounting scandal continues. In the first half of the year the retail bank reported a pretax profit of £15.4m, swinging from a loss of £10.5m the year before when the bank faced significant restructuring and write-off costs. The second [...]
Metro Bank reports continued profitability as turnaround efforts slowly bear fruit May 3, 2023 Metro Bank recorded its second consecutive quarter of profitability as the bank’s turnaround plans continue to bear fruit. Although it did not provide details, Metro Bank confirmed in a trading update today it was profitable on a statutory basis in the first quarter of this year. This comes after the bank reported profitability in the [...]
Metro Bank loss narrows to £70.7m as bank vows to put compliance issues behind it March 2, 2023 Higher interest rates helped Metro Bank narrow its loss for the year as the bank attempts to put a series of compliance missteps behind it. Metro Bank’s pretax loss narrowed to £70.7m in 2022, as the bank saw revenue jump 31 per cent on the back of higher interest rates. The bank noted it was [...]
Covid loan crisis as taxpayers foot £4.4bn bill to cover losses with more still owed in arrears or defaults February 8, 2023 The cost of Covid-era loan losses to the taxpayer could total £11bn, according to figures released by the British Business Bank British banks have already been paid £4.4bn to cover losses including fraud with more in arrears or default. Of the £77bn issued across three different loan schemes, according to figures published , £4.4bn has [...]