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Metro Bank PLC (MTRO.L)

MTRO.L on London Stock Exchange

2,630.00GBp
16 Oct 2018
Change (% chg)

-60.00 (-2.23%)
Prev Close
2,690.00
Open
2,706.00
Day's High
2,710.00
Day's Low
2,608.00
Volume
249,857
Avg. Vol
174,627
52-wk High
4,056.00
52-wk Low
2,608.00

Latest Key Developments (Source: Significant Developments)

Metro Bank Says Q1 Deposit Growth Of 1.03 Bln STG, Up 41 Pct
Wednesday, 25 Apr 2018 02:00am EDT 

April 25 (Reuters) - Metro Bank PLC ::1ST QUARTER RESULTS.Q1 DEPOSIT GROWTH OF £1,033M, UP 41% YEAR-ON-YEAR TO £12.7B.NET DEPOSIT GROWTH PER STORE PER MONTH OF £6.3M ($8.8M) IN Q1 2018 VERSUS £5.9M ($8.3M) IN Q4 2017.Q1 LENDING GROWTH OF £1,354M, UP 69% YEAR-ON-YEAR TO £11.0B.Q1 DEPOSIT GROWTH OF £1,033M, UP 41% YEAR-ON-YEAR TO £12.7B.Q1 UNDERLYING PROFIT BEFORE TAX 1 AT £10.0M ($14.0M), UP 21% FROM £8.3M ($11.6M) IN Q4 2017.88,000 INCREASE IN CUSTOMER ACCOUNTS IN Q1 TO 1,305,000.INCREASE IN LOAN TO DEPOSIT RATIO TO 86%. ASSET QUALITY REMAINS STRONG; COST OF RISK AT 0.09% IN Q1."IN LONDON AND SOUTH EAST - WHICH ACCOUNTS FOR 34% OF UK'S SME MARKET - WE ARE SEEING THOUSANDS OF BUSINESSES SWITCH TO US"- CEO.WE CONTINUE TO ASSESS APPROPRIATE CAPITAL TO FUND OUR GROWTH AND ANTICIPATE A TIER 2 DEBT ISSUANCE IN 2018.OUR BID FOR RBS ALTERNATIVE REMEDIES PACKAGE APPLICATION IS PROGRESSING.COMMON EQUITY TIER 1 CAPITAL AS A PERCENTAGE OF RISK WEIGHTED ASSETS IS 13.6% IN Q1.  Full Article

Metro Bank Names David Arden As CFO
Wednesday, 21 Mar 2018 11:01am EDT 

March 21 (Reuters) - Metro Bank Plc ::‍MIKE BRIERLEY, CHIEF FINANCIAL OFFICER TO RETIRE AND DAVID ARDEN APPOINTED​.DAVID ARDEN WILL BE APPOINTED AS CFO, COMPANY SECRETARY AND DIRECTOR OF BOARD OF METRO BANK PLC WITH EFFECT FROM 29 MARCH 2018​.  Full Article

Metro Bank Announces Mortgage Book Acquisition For 523 Mln Pounds ​
Friday, 23 Feb 2018 10:50am EST 

Feb 23 (Reuters) - Metro Bank Plc ::AGREED TO ACQUIRE A PORTFOLIO OF UK MORTGAGES ( "PORTFOLIO") FROM CERH RSMC SUB B.V. AND CAPITAL HOME LOANS LIMITED FOR £523M​.‍DEAL IS EXPECTED TO COMPLETE ON 1 MARCH 2018​.‍CONSIDERATION OF £523M REPRESENTS VALUE AT WHICH ACQUIRED MORTGAGES WILL BE TAKEN ON TO BANK'S BALANCE​.‍CONSIDERATION ONSIDERATION IS BEING FINANCED USING CASH FROM EXISTING RESOURCES.​.‍PORTFOLIO IS BEING ACQUIRED AT A DISCOUNT TO PAR​.  Full Article

Metro Bank Says ‍Q4 Revenue Up 8 Percent
Wednesday, 21 Feb 2018 02:00am EST 

Feb 21 (Reuters) - Metro Bank Plc ::‍Q4 DEPOSIT GROWTH OF £0.9B; UP 8 PCT QUARTER-ON-QUARTER TO £11.7B.​.‍Q4 REVENUE UP 8 PCT QUARTER-ON-QUARTER TO £84.6M​.SAYS FY DEPOSIT GROWTH OF 3.7 BILLION STG, UP 47 PERCENT YEAR-ON-YEAR TO 11.7 BILLION STG.METRO BANK - ‍IN 2018 WE EXPECT TO OPEN 12 STORES CREATING 900 JOBS​.SAYS FY RECORD LENDING GROWTH OF £3.8B; UP 64 PCT YEAR-ON-YEAR TO £9.6B.."PREPARING OUR BID FOR RBS ALTERNATIVE REMEDIES PACKAGE"​.SAYS FY UNDERLYING EARNINGS PER SHARE 18.8P VERSUS. 14.7P LOSS PER SHARE IN 2016.SAYS FY UNDERLYING PROFIT BEFORE TAX OF £20.8M 1 COMPARED TO UNDERLYING LOSS BEFORE TAX OF £11.7M IN 2016.SAYS FY TOTAL REVENUE OF £293.8 MILLION, UP 51 PERCENT.‍TOTAL LOANS AS OF 31 DECEMBER 2017 WERE £9.6B, UP FROM £8.6B AT 30 SEPTEMBER 2017 AND £5.9B AT 31 DECEMBER 2016​.‍AT 31 DECEMBER TOTAL DEPOSITS WERE £11.7B ($15.8M), UP FROM £10.8B AT 30 SEPTEMBER 2017 AND £8.0B AT DECEMBER 2016​.  Full Article

Metro Bank says ‍Q3 underlying pretax profit up 77 pct from Q2​
Wednesday, 25 Oct 2017 02:00am EDT 

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 02:00am EDT 

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

Metro Bank appoints Martyn Atkinson as CIO
Tuesday, 8 Aug 2017 07:02am EDT 

Aug 8 (Reuters) - Metro Bank Plc ::‍Appointment of Martyn Atkinson as chief information officer, with him taking up new role on Sept 4, 2017​.‍Atkinson will report to CEO, Craig Donaldson, and will be a member of bank's executive leadership team​.  Full Article

Metro Bank announces placing to raise about 277.9 mln pounds
Wednesday, 26 Jul 2017 02:00am EDT 

July 26 (Reuters) - METRO BANK PLC ::RAISED TOTAL GROSS PROCEEDS OF ABOUT 277.9 MLN STG FOR COMPANY VIA PLACING.  Full Article

Metro Bank says raised 277.9 mln stg through placing
Tuesday, 25 Jul 2017 08:02pm EDT 

July 25 (Reuters) - Metro Bank Plc : :Metro bank plc announces the successful completion of the non pre-emptive cash placing of new ordinary shares.Metro bank plc - a total of 8 million new ordinary shares of 0.0001 pence per share in the capital of co have been placed at 3465 pence per placing share.  Full Article

Metro Bank buys UK mortgages portfolio for 596.7 mln stg
Friday, 2 Jun 2017 02:00am EDT 

June 2 (Reuters) - Metro Bank Plc :Mortgage portfolio acquisition.Metro Bank Plc says it has completed purchase of a portfolio of UK mortgages ( "portfolio") from Cerberus European Residential Holdings B.V. for 596.7 mln stg.‍Portfolio is being acquired at a discount to par.​.‍Consideration of 596.7 mln stg represents value at which acquired mortgages will be taken on to bank's balance sheet and is being financed using cash from existing resources​.  Full Article

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Virgin Money bid sparks British bank consolidation talk

LONDON British entrepreneur Richard Branson, founder of the Virgin business empire, is reviewing a 1.6 billion pounds ($2.2 billion) takeover bid that could turn the fledgling lender he founded almost 25 years ago into one of Britain's biggest banks.