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United Kingdom

Metro Bank PLC (MTRO.L)

MTRO.L on London Stock Exchange

2,910.00GBp
4:56pm BST
Change (% chg)

4.00 (+0.14%)
Prev Close
2,906.00
Open
2,908.00
Day's High
2,918.00
Day's Low
2,878.00
Volume
159,632
Avg. Vol
166,013
52-wk High
4,056.00
52-wk Low
2,674.00

Latest Key Developments (Source: Significant Developments)

Metro Bank Reports H1 Underlying Pretax Profit At £24.1M
Tuesday, 24 Jul 2018 

July 24 (Reuters) - Metro Bank PLC ::UNDERLYING PROFIT BEFORE TAX1 AT £24.1M ($32.0M), A FOUR-FOLD INCREASE FROM £6.0M ($8.0M) IN H1 2017.ON TRACK TO OPEN 12 NEW LOCATIONS IN 2018.HY CONTINUED STRONG DEPOSIT GROWTH OF £2,067M, UP 40% YEAR-ON-YEAR TO £13.7B.H1 LENDING GROWTH OF £2,393M, UP 55% YEAR-ON-YEAR TO £12.0B.HY NET DEPOSIT GROWTH PER STORE PER MONTH OF £6.2M ($8.2M) IN H1 2018.TOTAL DEPOSITS INCREASED TO £13,736M AS AT 30 JUNE 2018, UP FROM £11,669M AT 31 DECEMBER 2017.TOTAL NET LOANS INCREASED TO £12,013M AS OF 30 JUNE, UP FROM £9,620M AT 31 DECEMBER 2017.HY COMPARATIVE STORE DEPOSIT IS 37%..AT H1 END LOAN TO DEPOSIT RATIO INCREASED TO 87% (31 DECEMBER 2017: 82%).AT H1 END COMMON EQUITY TIER 1 CAPITAL AS A PERCENTAGE OF RISK WEIGHTED ASSETS IS 12.7%, EXCEEDING TIER 1 REGULATORY MINIMUM OF 9.7%.PILLAR 2A REQUIREMENT OF 1.7% IS CURRENTLY UNDER REVIEW WITH PRA.ANTICIPATE RECEIVING CAPITAL RELIEF AS PART OF PILLAR 2A OFFSET, IN EFFECT TEMPORARILY REDUCING REGULATORY MINIMUM, INCREASING MANAGEMENT BUFFERS.TARGET CET1 RATIO REMAINS >12%, TOWARDS AIRB IMPLEMENTATION WILL HAVE SUFFICIENT MANAGEMENT BUFFERS TO BE COMFORTABLE BETWEEN 11-12%.  Full Article

Metro Bank to place about 8.9 mln ORDINARY SHARES 0.0001 pence per share
Tuesday, 24 Jul 2018 

July 24 (Reuters) - Metro Bank PLC ::PLACING OF NEW ORDINARY SHARES.TO CONDUCT A NON-PRE-EMPTIVE CASH PLACING OF UP TO APPROXIMATELY 8.85 MILLION NEW ORDINARY SHARES OF 0.0001 PENCE PER SHARE.PLACING WILL BE CONDUCTED THROUGH AN ACCELERATED BOOK-BUILD PROCESS.PLACING REPRESENTS 10 PERCENT OF COMPANY'S ISSUED SHARE CAPITAL, AT PRICE OF 3422 PENCE PER PLACING SHARE.PROCEEDS OF PLACING WILL BE USED TO SUPPORT METRO BANK'S GROWTH AND REPLACE LIQUIDITY USED IN CONNECTION WITH ACQUISITION.  Full Article

Metro Bank says ‍Q3 underlying pretax profit up 77 pct from Q2​
Wednesday, 25 Oct 2017 

Oct 25 (Reuters) - Metro Bank Plc ::METRO BANK PLC - ‍Q3 UNDERLYING PROFIT BEFORE TAX 1 AT £7.2M, A 77 PCT INCREASE FROM £4.0M IN Q2 2017​.‍DEPOSITS FROM CUSTOMERS UP £955M, 10 PCT QUARTER-ON-QUARTER TO £10.8B ($14.4B) IN Q3​.METRO BANK PLC - ‍RECORD QUARTERLY GROWTH OF 79,000 CUSTOMER ACCOUNTS IN Q3 TO 1,124,000, UP 33 PCT YEAR-ON-YEAR​.Q3 ‍LENDING UP £858M, 11 PCT QUARTER-ON-QUARTER TO £8.6B ($11.5B) AND A 1 PCT INCREASE IN LOAN TO DEPOSIT RATIO TO 80 PCT​.METRO BANK PLC - ‍LOAN TO DEPOSIT RATIO INCREASED TO 80 PCT IN Q3 (30 JUNE 2017: 79 PCT; 30 SEPTEMBER 2016: 71 PCT) AS MOMENTUM IN OUR LENDING CONTINUES​.‍WE ARE ON TRACK TO MEET OUR JANUARY PLEDGE TO LEND £1BN OF NET LENDING TO BUSINESSES DURING 2017​.METRO BANK PLC - ‍NET INTEREST MARGIN OF 1.94 PCT FOR THIRD QUARTER UP FROM 1.92 PCT DRIVEN BY INCREASE IN LOAN TO DEPOSIT RATIO​.‍Q3 COMMON EQUITY TIER 1 CAPITAL ("CET1") AS A PERCENTAGE OF RISK WEIGHTED ASSETS IS 17.4 PCT​.METRO BANK - ‍WILLIAMS & GLYN ALTERNATIVE REMEDIES PACKAGE PRESENTS AN OPPORTUNITY AND WE ARE PREPARING OUR BID FOR FUNDS​.METRO BANK PLC - Q3 ‍TOTAL REVENUE 78.1 MILLION STG VERSUS 53.4 MILLION STG YEAR AGO​.‍REMAIN ON TRACK TO DELIVER OUR FIRST FULL YEAR OF PROFITABILITY IN 2017 AND REITERATE OUR 2020 GUIDANCE​.  Full Article

Metro Bank says CFO ‍Mike Brierley to retire in 2018
Wednesday, 25 Oct 2017 

Oct 25 (Reuters) - Metro Bank Plc :METRO BANK PLC - ‍DAVID ARDEN ANNOUNCED AS SUCCESSOR​.METRO BANK PLC - ‍MIKE BRIERLEY, CFO, COMPANY SECRETARY AND DIRECTOR OF METRO BANK PLC HAS INFORMED BOARD OF HIS INTENTION TO RETIRE NEXT YEAR​.  Full Article

UPDATE 1-UK Stocks-Factors to watch on Sept 3

Sept 3 Britain's FTSE 100 index was seen opening 1 point higher at 7,434 on Monday, according to financial bookmakers, with futures up 0.3 percent ahead of the cash market open.