Metro Bank fined £10m by FCA for publishing incorrect information December 12, 2022 Metro Bank has been slapped with a £10m fine for publishing incorrect information to investors, while two of its former executives have received a warning. The lender was told to pay up by the Financial Conduct Authority for breaching rules, while its ex chief executive and chief financial officer were given fines also. The original [...]
Metro Bank, NatWest and Hospitality UK among top employers to back fertility pledge November 2, 2022 Metro Bank, NatWest, the Co-op, Channel 4, and UK Hospitality are among major employers backing a pledge to help millions going through fertility treatment. A new campaign launched today in Parliament by the MP for Cities of London and Westminster, Nickie Aiken, hopes to support more than 3.5m people who can’t conceive naturally. The Fertility [...]
Metro Bank shares soar as lender returns to profit November 2, 2022 Metro Bank’s shares soared this morning, after the London-listed lender announced it had returned to profit in September. Investors piled into the stock, lifting shares a little over 10 per cent to 80.1p a piece. “I am really pleased to see the business return to profit in September on both an underlying and statutory basis,” [...]
Metro Bank losses narrow despite big loan-loss reserve charge July 28, 2022 A ramping up in lending to riskier borrowers and an anticipated uptick in defaults caused by inflation surging to a 40-year high has led Metro Bank to set aside millions of pounds of loan-loss reserves. The lender, which has been grappling with severe under performance for years, narrowed losses in the six months to June [...]
Cineworld, ASOS and Boohoo: The 10 most shorted LSE stocks and the City fund managers that go after them May 25, 2022 Cineworld Group, the world’s second-largest cinema chain, is currently the most shorted UK listed company, according to the most up-to-date London Stock Exchange data. Some 8.2 per cent of its stock was held short by five investment firms, with New Holland Capital LLC holding the largest short position with 2.4 per cent of the company’s [...]
Metro Bank says turnaround plan is working after cutting losses to £245m February 23, 2022 Metro Bank has said its turnaround plan is working, despite losing £245.1m last year, after its revenues increased 17 per cent despite the economic impacts of Covid-19. The London retail bank said its efforts to cut costs and win over customers had started to work, after it set out its turnaround plan, to rejuvenate its [...]
Millions of banking app users exposed to security flaw: HSBC, NatWest, Monzo, Santander, Starling and Virgin Money customers all affected January 12, 2022 Millions of Brits who use online banking services are exposed to some worrying fraud risks, industry experts warned today. Following an investigation by security experts 6point6, testing the online and mobile app security of 15 major current account providers on a range of criteria, including encryption and protection, login, and account management and navigation, consumer [...]
City fine: Bank of England tells Metro Bank to pay millions for reporting and governance failures that went on for years December 22, 2021 Metro Bank was told this morning by the Bank of England to pay close to £5.4m for failures with regards to the quality of its reporting and governance. The central bank’s Prudential Regulation Authority (PRA) watchdog confirmed it imposed the penalty on the challenger bank over failings between May 2016 and January 2019. On January [...]
Markets spit out Metro Bank as private equity giant Carlyle walks away from takeover talks November 18, 2021 US private equity giant Carlyle has walked away from talks to buy British high street lender Metro Bank, prompting markets to spit out the lender. Its shares plummeted over 19 per cent today. However, they are still above where they were before Metro Bank announced it was being courted by Carlyle. However, that take did [...]
Metro Bank shares surge on Carlyle Group takeover approach November 4, 2021 Shares in high street lender Metro Bank jumped 35 per cent today after it confirmed it was in talks with funds linked to the Carlyle Group regarding a takeover. Shares are currently up 35 per cent at 139p per share. It added in a statement there was no certainty an offer would be made and [...]