Edition:
United States

Metro Bank PLC (MTRO.L)

MTRO.L on London Stock Exchange

3,486.00GBp
24 Nov 2017
Change (% chg)

26.00 (+0.75%)
Prev Close
3,460.00
Open
3,473.00
Day's High
3,494.00
Day's Low
3,437.00
Volume
27,906
Avg. Vol
126,073
52-wk High
3,872.00
52-wk Low
2,915.00

Latest Key Developments (Source: Significant Developments)

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

Metro Bank posts Q1 underlying pre-tax profit 2 mln stg
Wednesday, 26 Apr 2017 02:00am EDT 

April 26 (Reuters) - Metro Bank Plc ::Deposits up 13% quarter-on-quarter to £9.0b ($11.4b) whilst cost of deposits dropped from 66bp in q4 2016 to 61bp in q1 2017.Record net deposit growth per store per month of £7.4m ($9.3m) in q1 2017 versus £5.0m ($6.3m) in q4 2016.Underlying profit before tax 1 at £2.0m (£1.5m in q4 2016).Q1 lending up 11%, quarter-on-quarter to £6.5b ($8.2b)."we continue to grow business, and remain on track to open a further ten stores before year end.".As of 31 March total assets were £11,624m, up from £10,057m at 31 December 2016 and £7,388m at 31 March 2016; representing 16% growth in quarter.We remain confident in our ability to deliver a full year of profitability in 2017 and to achieve our 2020 guidance.  Full Article

Metro Bank posts 64 pct growth in FY asset growth year-on-year
Wednesday, 22 Feb 2017 02:00am EST 

Metro Bank : FY asset growth up 64% year-on-year to £10,057m ($12,370) . FY record deposit growth; up 56% year-on-year to £7,951m ($9,780m) . FY record lending growth; up 66% year-on-year to £5,865m ($7,214m) . FY loan to deposit ratio increased to 74% . FY revenue up 62% year-on-year to £195m . FY record 260,000 increase in customer accounts to a total of 915,000 . FY underlying loss before tax1 at £11.7m (compared to a loss of £46.6m in 2015) . FY strong common equity tier 1 capital ratio at 18.1% . Will strengthen network with a further 10-12 new stores in 2017 . Expect to deliver a full year of profitability in 2017 .Remain confident to achieve 2020 guidance; have seen no significant change in customer behaviour since the European Referendum vote.  Full Article

Metro Bank posts first quarterly underlying profit as deposits grow
Wednesday, 26 Oct 2016 02:00am EDT 

Metro Bank Plc : Metro bank reports 66 pct growth in deposits and first underlying profit . Says revenue up 78 pct year-on-year to £53.4m ($69.4m) . Underlying profit before tax1 at £0.6m (compared to a £3.4m loss in Q2 2016) . Says deposits up 66 pct year-on-year to £7,297m ($9,486m) . Says lending up 73 pct, year-on-year to £5,193m ($6,751m) . The loan to deposit ratio increased to 71 pct (30 June 2016: 70 pct; 30 September 2015: 68 pct). . Q4 will see a further fall as deposit re-pricing comes into effect following the reduction in base rate in August . Common Equity Tier 1 capital ("CET1") as a percentage of risk weighted assets is 20.4 pct. Regulatory leverage ratio is 7.4 pct . Says capital ratios remain robust and well above regulatory requirements . Says we continue to show strong deposit growth even as cost of our deposits falls .Says customer accounts have increased from 780,000 on 30 June 2016 to 848,000 at 30 September.  Full Article

Metro Bank says half-yearly revenue up 63 pct
Wednesday, 27 Jul 2016 02:00am EDT 

Metro Bank Plc : Total deposits increased 74 pct year-on-year to 6.6bn stg, with deposits coming from a diversified mix of both businesses and retail customers . Since referendum vote we have seen no change in customer behaviour or impact on business flows - CEO . Revenue is up 63 pct year-on-year and underlying quarterly loss after tax down to 4.1 mln stg, compared to 10.2m stg in Q4 2015 and 7.9m stg in Q1 2016 . In a strong position to deal with any post European referendum uncertainty - CEO .As of 30 June total assets were 8,351m stg , up from 7,388m stg at 31 March 2016 and 4,571m stg at 30 June 2015.  Full Article

UPDATE 2-Britain's Metro Bank profit jumps as lending and customer numbers rise

* Total loans jump 66 percent to 8.61 billion pounds (Adds CEO comments, details)