Metro Bank Share Discussion Threads

[hazl] 28/7/2021 08:12

The big banks don't like competition.

I hear that customers like the Metro approach.

[sentimental rules] 28/7/2021 08:11

anoracbill

another riles alias

[anchoracockbill] 28/7/2021 08:09

they did D - they made another loss - also note the adjustments for the mortgage book sell off etc

[bargainbob] 28/7/2021 08:09

Is Cud the only one making money here .

[anchoracockbill] 28/7/2021 08:08

up to you H - but my view is they had to sell the best of their mortgage book just to keep the lights on now into riskier lending////////////// what they gonna flog next and no mention of the very high coupon payments i notice..........

[hazl] 28/7/2021 08:00

Total underlying revenue at £179.8 million (H1 2020: £153.3 million) demonstrates the recovery of a significant portion of the income foregone from the mortgage disposal in December 2020. Adjusting for the disposal, revenue improved 47% YoY and 14% HoH.

Great efforts.
I think they are doing well.

[dealy] 28/7/2021 07:55

I don't understand those results. Why can't they paint a simple picture of what the underlying business looks like now and where it is heading?

[anchoracockbill] 28/7/2021 07:51

abysmal! my view is dan is starting to look expensive now - would expect there to be some very fast fingers on the sell button this morning if anyone actually takes them - my view is nothing in that rns to excite anyone just awful

[farrugia] 28/7/2021 07:49

losing GBP138.9 million in 6 months and they have done well? This company only has a market cap of 165.09M...

[hazl] 28/7/2021 07:42

' Total underlying revenue at £179.8 million (H1 2020: £153.3 million) demonstrates the recovery of a significant portion of the income foregone from the mortgage disposal in December 2020. Adjusting for the disposal, revenue improved 47% YoY and 14% HoH. '

I think they have done well .
Reduced losses.

[tomboyb] 28/7/2021 07:07

Metro Bank PLC (LSE: MTRO LN)

Interim results for half year ended 30 June 2021

Summary


-- Strategic plan remains on track. The liability-led strategy, supplemented
by an acceleration of asset mix shift, has reduced cost of deposits
and increased lending yield.
-- Remain focused on executing the plan and returning to profitable growth,
meeting the bank's strategic objectives and supporting our colleagues,
customers and communities.
-- Total underlying revenue at GBP179.8 million (H1 2020: GBP153.3 million)
demonstrates the recovery of a significant portion of the income foregone
from the mortgage disposal in December 2020. Adjusting for the disposal,
revenue improved 47% YoY and 14% HoH.
-- Cost of Deposits at 0.31% in H1 2021 (H1 2020: 0.82%) reflects continuing
mix improvement, pricing action taken as well as the Base rate decrease
in March 2020.
-- Underlying loss before tax of GBP110.0 million (H1 2020: loss of GBP183.4
million) largely reflects a reduction in ECL expense YoY. Adjusting
for the disposal, underlying loss improved 49% YoY and 6% HoH.
-- Statutory loss before tax of GBP138.9 million (H1 2020: loss of GBP240.6
million) includes one-off items such as intangible impairment and remediation
costs. Adjusting for the disposal, statutory loss before tax improved
46% YoY and 10% HoH.

[anchoracockbill] 27/7/2021 21:50

yep those gamblers (investors) have been coming in regularly since at least 2013

in fact i like the mtro business model = not everyone's cup of tea perhaps as apparently according to this extract they plan for losses - interesting model which maybe reflects in the sp:
"On 2 May 2013 the Daily Telegraph reported that, following a loss of £8.8 million in the first quarter of 2013, Metro Bank's pre-tax losses had exceeded £100 million in less than three years since its launch, but the bank stated that these were planned for................." still fear not "the best is yet to come" vh stated in the same article ""Our primary goal is to expand the business ... and profit certainly will come"
doesnt this all have a familiar tone to it? still 100 million losses - peanuts lets up the game to say about 350 million " The miscalculation was identified through a review by the Prudential Regulation Authority (PRA) but Metro Bank erroneously gave the impression that the bank had identified the incorrect classification itself.[13] To correct the error in the capital classification, Metro Bank announced a £350m share issue and said it would reduce its growth plans. It was also reported that the PRA and the Financial Conduct Authority were to investigate the circumstances of the error.[13]"
i believe mtro still paying very high coupon for that error making profit nigh on impossible even if they made one.................?

[thomas4billing] 27/7/2021 21:00

UK Economy to boost in 2021 !IMF upgrades UK economic forecast https://www.bbc.co.uk/news/business-57987091

[sentiment riles] 27/7/2021 20:15

You too Destroyer

[anchoracockbill] 27/7/2021 20:14

have a good evening Loki

[sentiment riles] 27/7/2021 20:14

They did manage to find exceptionally thick investors for a long time

[sentiment riles] 27/7/2021 20:13

Well put Destroyer

Summed it all up perfectly

[anchoracockbill] 27/7/2021 20:13

to lift share price here mtro need something exceptional which i dont believe they have at all not even close