Metro Bank Share Discussion Threads

[institutional investments] 01/5/2024 12:31

A few branches is where the trads will end up at, for office administration space more than anything else

[institutional investments] 01/5/2024 12:30

No point talking about what they dont offer. metro bank after a decade plus and 70 branches or so, had to pivot to the casino

[arborfieldinvestor] 01/5/2024 12:29

Other banks are NOT in the same position as MTRO they are established with 1000s of legacy branches many of these with limited footfall. You don't see, for example, NatWest closing ALL of their branches in the middle of London, Birmingham, Newcastle etc. There are places that it makes sense to have branches and places it doesn't.

[institutional investments] 01/5/2024 12:28

Chase bank in it's first year alone, hit over 1 million customers and 10 billion in deposits, with an app. i think they have way more than doubled that now...

[thanatos abysss] 01/5/2024 12:25

II PMD you me us

[institutional investments] 01/5/2024 12:23

The cost of 'footfall' is extortionate. Especially now with cost of deposits etc

[institutional investments] 01/5/2024 12:22

Other banks are closing branches ....

yes?

[arborfieldinvestor] 01/5/2024 12:20

I'm not sure what informed market you are referring to. MTRO is still a start up and needs to get a foothold of branches in key population areas. Other banks are closing branches where they have multiple through acquisitions or in smaller population areas. They were primarily in the South and the new branch openings are in the North. Seems very sensible to me if you want to be viewed as a proper challenger bank with a UK wide footprint.

[institutional investments] 01/5/2024 12:17

It's a bit of an issue re cost reduction calcs , when the informed market see all or most branches closing altogether

[arborfieldinvestor] 01/5/2024 12:14

One of the news articles yesterday had a break down of the new hours that the branches will be opening. I thought it would be interesting to calculate the cost reduction based on hours open. The numbers are as follows:

New Hours

44 Branches mon-fri 5 x 9.30-5.00 =7.5x44*5 = 1650
32 Branches mon-fri 5x9.30-5.00 = 7.5*32*5=1200
Sat 11-4 = 7.5*32=160
Total = 3010 Hours open

Previously

76 Branches mon-sat 8.30-6.00 = 76*9.5*6 = 4332
sun 11-5 = 6*76 = 456
Total = 4788

This represents a 37% overall reduction in Branch opening hours across the company. These came into affect as of the start of this week so the cost savings should be seen in the next quarter onwards.

[institutional investments] 01/5/2024 12:04

Institutional Investments1 May '24 - 11:54 - 25335 of 25339 Edit
0 0 0
Possibly see a few angry posters soon maybe


1

[thanatos abysss] 01/5/2024 12:00

sorry about my alter ego

but no one looks at this rambo fella on x

ignored there too it seems

lol

[institutional investments] 01/5/2024 11:54

Possibly see a few angry posters soon maybe

[institutional investments] 01/5/2024 11:52

I do not think you would see any 'real' investors visiting this one in the banking sector [...]
— Rambo (@Rambo288470)

[institutional investments] 01/5/2024 11:32

Bond exchange: Over 75% of Metro Bank’s Tier 2 bondholders (£250 million face value) agreed to the debt refinancing, despite the fact that they face a 40% haircut. That is partly offset, however, because the notional amount of their Tier 2 bonds will be exchanged for new Tier 2 instruments with a much higher coupon (14% compared to approximately 9% on the current Tier 2 bonds).

[thanatos abysss] 01/5/2024 11:32

but we said that about RR at 70p

and everyone still laughing at us II

[institutional investments] 01/5/2024 11:28

You said that to my friend SR at 500p

He is still laughing today

[danvandan] 01/5/2024 11:20

As usual Joseph (institutional investments and all the other names), you are coming across as desperate and also very silly.

Things have changed significantly at Metro. The shares have bottomed already and are heading back up. We are more likely to see 60p than 26p.

[institutional investments] 01/5/2024 08:49

i would suggest his is going to close on 30s soon, and open, roughly 24's next day, for some reason. Maybe 26s

[institutional investments] 01/5/2024 08:31

Oh dear oh dear


Bad open that was for bulls as I doubt any sold with the funds

The abyss near

[thanatos abysss] 30/4/2024 20:41

damn II they still are you know