Metro Bank Share Discussion Threads

[ekuuleus] 23/10/2019 22:15

Well, results kind of expected. Some interesting trades in last hour. Need to have a deeper look there.

The 350M raised 30th Septemer is going to weigh heavily going forward.

[sentimentrules] 23/10/2019 22:10

No respect for the dark side.

Only one outcome. ..

[dailylarma] 23/10/2019 22:08

Short squeeze starts tomorrowShorts stay in single file, do not rush or push.

[sentimentrules] 23/10/2019 22:03

Or maybe the bulls are so desperate they are seeking new ground to be broken

[sentimentrules] 23/10/2019 22:02

Where the stock had dropped 90% first

[sentimentrules] 23/10/2019 22:01

Can you show me a past example of that scenario in the banking sector Leone.

[leoneobull] 23/10/2019 22:00

Indeed, if they put in a cheeky bid , even with limited chance of success, they would rerate the equity .

[babbler] 23/10/2019 21:56

https://mobile.twitter.com/TheValueInvest_/status/1187067712872181760

[babbler] 23/10/2019 21:55

https://mobile.twitter.com/ZaksTradersCafe/status/1187069001056378880

[babbler] 23/10/2019 21:54

https://mobile.twitter.com/ZaksTradersCafe/status/1187086649525788677

[babbler] 23/10/2019 21:53

https://mobile.twitter.com/DeepValueHunte1/status/1187099171360296960

[midasx] 23/10/2019 21:50

1. Continued strong customer growth (to 109k accounts)

2. Contrary to the most vocal bears, net deposits actually grew by just over a half a billion pounds and indeed, ex the wobble in Sep ref the MREL which caused a £213m outflow would have been one of the strongest on record. Key line ref the Sep outflow is “…but we are returning to business as usual”. Not sure where the bears go with this one now…

3. The “loan to deposit” ratio improved to 105% and continues to trend towards 100%.

4. Non performing loans were a nominal 0.2% – less than many other banks.

5. Shareholders equity remains at £1.7bn – approx £10 per share of book value with tangible book approaching £8.

6. Cost growth moderation going forward.

7. Tier (1) capital ratio (a key measure of capital strength) is now 16.8% – again at the top end of its peer group and reflecting balance sheet robustness. This is another key line – “As a result, the Bank’s Liquidity Coverage Ratio was higher than the 163% reported in Q2.”

[sentimentrules] 23/10/2019 21:26

I remember northern Rock beating expectation once. It went up 16.7%...dunno where it went 5 months later...

[cantrememberthis2] 23/10/2019 21:23

Well Done Metro Bank
Stable results - shorts should close IMO

[sentimentrules] 23/10/2019 21:21

Peter file

[sentimentrules] 23/10/2019 21:21

Pikey really..there are no 6 year olds here...

[sentimentrules] 23/10/2019 21:20

They were not shorting data kiddo..
Something else. .

Like when everyone said they would burn in the data just prior to the accounting scandal ...when they did the very same thing

[pakenham] 23/10/2019 21:17

in 40 years of doing this, I've never known shorters to be so frightened - they know hill and mates will probably buy millions tomorrow - they know the results easily beat expectations and they know ii shorts will likely want to close and they also know book value is about £10 - hill's average is about 7 quid so take private at about that level and shorters will lose tens of millions from the position as of 193p now. Tomorrow will be fun - massive perfect storm, tsunami coming watch and learn.

[techincs] 23/10/2019 21:15

Metro Bank PLC on Wednesday said it widened its loss quarter-on-quarter with the lender adding it is mulling its future growth plans after experiencing a challenging first nine months in 2019.

In the quarter ended September 30, Metro Bank widened its third quarter pretax loss to GBP6.7 million, from a GBP900,000 loss in the second quarter.

On an underlying basis, before one-off costs, it swung to a third quarter pretax loss of GBP2.2 million from a GBP6.7 million profit in the second quarter. In the third quarter of 2018, it registered an underlying pretax profit of GBP15.1 million.

The challenger bank generated total underlying revenue of GBP99.4 million, 5.3% lower year-on-year from GBP105.0 million. Quarter-on-quarter, this represented a 9.0% retreat from GBP109.2 million.

The underlying revenue comprises of GBP76.6 million in net interest income, down 7.0% quarter-on-quarter from GBP82.4 million, and fee and other income, up 5.4% to GBP25.3 million from GBP24.0 million in the second quarter.

The bank did register a GBP2.5 million loss on the sale of assets during the quarter, slightly reducing its underlying revenue.

For the first nine months of 2019, total underlying revenue stands at GBP316.2 million, up 7.3% year-on-year from GBP294.8 million, though it has swung to a GBP3.3 million pretax loss from GBP34.4 million profit. Underlying pretax profit sunk 71% to GBP11.3 million from GBP39.2 million.

Chief Executive Craig Donaldson said: "This financial performance reflects a challenging nine months for the bank. Despite considerable headwinds, we have made strong progress in reducing costs, increasing fee income and further strengthening our capital and liquidity position whilst also retaining our top position for overall quality of service for personal current account holders."

During the quarter, Metro Bank had total deposits of GBP14.2 billion, up 3.9% quarter-on-quarter from GBP13.7 billion.

Looking ahead, the company said it is "further evaluating its future plans to balance growth, profitability and capital efficiency", adding that it will update on this when it publishes its full year results.

Metro Bank said: "In the intervening time the bank will optimise capital, continue to progress with its cost efficiency programme and target further income diversification."

The release of its third quarter numbers comes hours after the company announced its founder Vernon Hill has stepped down as chair with immediate effect. Hill will remain as a non-executive until the end of 2019.

Non-Executive Director Michael Snyder has been appointed interim chair while the lender seeks a permanent successor for Hill.

[cantrememberthis2] 23/10/2019 21:12

Well Done Metro Bank
Stable results - shorts should close IMO

[cantrememberthis2] 23/10/2019 21:12

Well Done Metro Bank
Stable results - shorts should close IMO