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United Kingdom

Metro Bank PLC (MTRO.L)

MTRO.L on London Stock Exchange

2,270.00GBp
13 Nov 2018
Change (% chg)

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2,270.00
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Avg. Vol
210,154
52-wk High
4,056.00
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2,048.00

Latest Key Developments (Source: Significant Developments)

Metro Bank 9-month Profit Jumps, Says Competition In Mortgage Market Persists
Wednesday, 24 Oct 2018 

Oct 24 (Reuters) - Metro Bank PLC ::METRO BANK REPORTS CONTINUED STRONG GROWTH AND SURPASSES 1.5 MILLION CUSTOMER ACCOUNTS.CONTINUED STRONG DEPOSIT GROWTH OF £4.1B ($5.3B) YEAR-ON-YEAR, UP 38% TO £14.8B AND £1.1B QUARTER-ON-QUARTER, UP 8%..NET DEPOSIT GROWTH PER STORE PER MONTH OF £6.2M IN QUARTER, £6.3M FOR NINE MONTHS TO 30 SEPTEMBER 2018 REPRESENTING ANNUALISED DEPOSIT GROWTH PER STORE OF £75.6M ($98.3M)..RECORD LENDING GROWTH OF £4.5B ($5.9B) YEAR-ON-YEAR, UP 52% TO £13.1B, INCREASING LOAN TO DEPOSIT RATIO TO 89%. NET LENDING IN QUARTER EXCEEDED £1B FOR FOURTH SUCCESSIVE QUARTER..NET LENDING IN QUARTER EXCEEDED £1B FOR FOURTH SUCCESSIVE QUARTER.UNDERLYING PROFIT BEFORE TAX(1) AT £39.2M ($51.0M) FOR NINE MONTHS TO 30 SEPTEMBER 2018, A 197% INCREASE.SURPASSED 1.5 MILLION CUSTOMER ACCOUNTS, INCREASING TOTAL BY 303,000 OVER NINE MONTHS TO 30 SEPTEMBER 2018, AND UP 102,000 IN QUARTER.RECENT COMPETITIVE TRENDS IN MORTGAGE MARKET, HOWEVER, HAVE PERSISTED DESPITE BASE RATE INCREASE IN AUGUST.HAVE CONTINUED TO FOCUS ON HIGH QUALITY GROWTH OF LOW RISK ASSETS.BID APPLICATION FOR RBS ALTERNATIVE REMEDIES PACKAGE IS READY TO SUBMIT ONCE PROCESS COMMENCES IN NOVEMBER.REMAIN INTENSELY FOCUSED ON OUR 2020 TARGETS AND LONG TERM GROWTH OF BANK.  Full Article

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

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Goldman's Marcus jolts British banks out of savings slumber

LONDON Britain's big banks, long able to shrug off competition from start-ups, have been spooked by an account launched just six weeks ago by Goldman Sachs that pays savers more. | Video