Troubled Metro Bank slashes commercial real estate lending in portfolio rebalancing June 2, 2019 Metro Bank has dramatically reined in its lending to real estate clients as it tries to rebalance its loan portfolio. The challenger bank has undergone a torrid time recently after it miscategorised the risk of 10 per cent of its loan book sending its share price crashing and forcing it to raise £375m of additional [...]
Metro Bank shares slip as US law firms launch fraud probes after accounting error May 30, 2019 Shares in Metro Bank fell more than seven per cent this morning as two US law firms announced they are investigating whether securities fraud took place at the challenger bank. Read more: The next Northern Rock? Metro Bank has had a troubled week Pomerantz and Levi & Korinsky have launched probes into activity at the [...]
The next Northern Rock? Metro Bank has had a troubled week May 24, 2019 Could Metro Bank be the next Northern Rock? That’s not a question that any banker wants to hear, but in this case, some self-reflection seems necessary for the young bank. This last week has been nothing if not turbulent for Metro, the UK’s most shorted stock, with conspiracies circulating that it had fallen on hard [...]
Metro Bank shares rise for second day after board avoids shareholder rebellion May 23, 2019 Metro Bank shares continued to climb this morning two days after its board survived a shareholder protest at its annual general meeting. Read more: Metro Bank shares continue recovery after board avoids shake-up The challenger bank’s share price rose 7.4 per cent in early morning trading after a 15.2 per cent leap yesterday following the [...]
Disgruntled Metro Bank shareholders revolt with clear message to the board after loans blunder May 21, 2019 Disgruntled Metro Bank shareholders have sent a clear message to the bank’s board but stopped short of a full-blown rebellion at today’s annual general meeting. More than 28 per cent of investors voted against the re-election of two directors in charge of risk, Stuart Bernau and Eugene Lockhart. Read more: Metro Bank shares surge after [...]
Metro Bank raises £375m of capital three hours after launching share placing May 16, 2019 Metro Bank raised £375m of capital just hours after launching a discounted funding round this evening. A spokeswoman confirmed that the embattled challenger bank, which has struggled after a major loans blunder in January, closed the share placing less than three hours after announcing the funding round. Read more: Metro Bank launches £350m share placing [...]
Nationwide scoops £50m prize for small business lending May 14, 2019 Nationwide has won the latest round of funding from a high-profile grant designed to boost small business lending in the UK, pocketing the top £50m prize. Read more: Nationwide invests in ex-Barclays CEO's firm to boost business banking Investec and the Co-operative Bank were also named as winners, taking home £15m each. The awards, handed [...]
Metro Bank denies rumours of financial trouble ahead of fundraising May 12, 2019 Under-fire high street lender Metro Bank sought to quash fresh rumours of financial trouble this evening ahead of a crucial City fundraising effort expected to take place in the coming days. The challenger bank insisted today there was no truth to speculation on social media and messaging apps about instability at the firm, as it sought [...]
Metro Bank prepares for £350m placing next week May 11, 2019 Metro Bank will next week announce a new £350m fundraising which it hopes will end weeks of pressure over the state of its finances. The bank has started formal talks with institutional investors, one city source told Sky News. Read more: Major investor cuts Metro Bank stake by almost a third It is said to [...]
US investment firm Fidelity cuts Metro Bank stake by almost a third May 10, 2019 One of Metro Bank's biggest investors has cut its shares in the lender by just under a third ahead of a £350m rights issue. Read more: Metro Bank shares plunge to all-time lows as hedge funds circle Fidelity Management and Research (FMR) held a 7.55 per cent stake in the challenger bank, but has cut that [...]