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Re: Metro Bank

Posted: Tue Mar 19, 2019 4:48 pm
by macliam
planteria wrote:
Tue Mar 19, 2019 1:43 pm
i understand the frustration, but i suppose we have to be comfortable that banks are reluctant to change customer contract details without being very careful to ensure they get it right.
I agree - just wish it hadn't caught me out!! It's hard to see how they can run a high-street, 7-day op and keep their head above water, but I'm not looking to invest. Their products don't seem to offer much incentive - but probably on a par with other banks..... so as a secondary account they're fine.
rayf wrote:
Tue Mar 19, 2019 1:56 pm
we have a local branch opening soon .....wonder what it'll be like :?
Go and check - the branch service was good (just that 35 miles away isn't exactly "local"). The phone service was good too - and when I emailed the branch manager to ensure I wasn't going on a wild goose chase, he replied really quickly. If there was one on my doorstep, they might even become my primary.....

Re: Metro Bank

Posted: Tue Mar 19, 2019 6:12 pm
by AAAlphaThunder
planteria wrote:
Tue Mar 19, 2019 9:56 am
the Metro branch in Birmingham is under construction. they have a prime location so it'll be interesting to see how successful they are in a new big city.
I walked past it a few weeks ago and it looks futuristic. The kind of money to open shop in such a prime location with such a big area is eye watering. They must be confident that they will make it all back.

Re: Metro Bank

Posted: Wed May 01, 2019 9:22 pm
by planteria
good news for those shorting Metro Bank...

"Metro Bank profits fall 30%

In January, Metro Bank revealed that it had underestimated the risk level of some of its commercial loans.

Pre-tax profits for the three months ended 31 March 2019 halved, from £8.6m to £4.3m year-on-year, while pre-tax profits fell 30% from £6.1m to £4.3m compared to the previous quarter.

"Adverse sentiment following January’s update impacted deposit growth in the quarter, with a small number of large commercial and partnership customers making withdrawals," said Metro Bank's chief executive Craig Donaldson.

However, he stressed that net inflows had returned in April, despite a "challenging" quarter, and that customer accounts had increased by 6%, compared with the previous quarter."

https://www.bbc.co.uk/news/live/business-48095216

Re: Metro Bank

Posted: Thu May 09, 2019 10:38 pm
by planteria

Re: Metro Bank

Posted: Sun May 12, 2019 12:22 pm
by planteria

Re: Metro Bank

Posted: Sun May 12, 2019 1:03 pm
by Boro Boy
Still time to pile in...!?!

Re: Metro Bank

Posted: Sun May 12, 2019 4:11 pm
by AAAlphaThunder
Boro Boy wrote:
Sun May 12, 2019 1:03 pm
Still time to pile in...!?!
High-risk but it may pay off.

Re: Metro Bank

Posted: Sun May 12, 2019 10:48 pm
by Boro Boy
AAAlphaThunder wrote:
Sun May 12, 2019 4:11 pm
Boro Boy wrote:
Sun May 12, 2019 1:03 pm
Still time to pile in...!?!
High-risk but it may pay off.

Can a UK Bank be classed as High Risk? :think:

Re: Metro Bank

Posted: Mon May 13, 2019 6:54 am
by pabenny
Yes - for investors.

Think of Co-op Bank, Bradford and Bingley, Northern Rock, etc where the shareholders were largely or fully wiped out.

I foresee a managed acquisition by another bank (maybe one like Yorkshire) which will allow them to acquire the customers and the technology platform while losing the (costly) branch network. All depends on whether the tech is actually any good under the bonnet.

Re: Metro Bank

Posted: Mon May 13, 2019 8:26 am
by planteria
interesting foresight pab.. that would be an embarrassment for MetroBank, and i don't think it's on the cards any time soon.