Metro Bank Share Discussion Threads

[midasx] 24/10/2019 06:51

Share price over 92% lower than 12 Month high!

Q3 Summary for 3 months ending 30 September 2019
 Total deposits of £14.2 billion with Q3 growth of £528 million.
 Customer account growth of 106,000 in Q3 2019 (Q2 2019: 93,000) to 1.9 million.
 Total net loans of £14.9 billion broadly flat quarter-on-quarter, with the loan to
deposit ratio reducing to 105% (H1 2019: 109%).
 Modest quarter-on-quarter reduction in operating costs and continued growth
in fee and other income.
 Asset quality remains strong, reflected in Q3 cost of risk of 5 bps (Q2 2019: 6 bps).
 Strong liquidity and funding position maintained, with LCR higher than Q2 2019.
 Underlying loss before tax1 of £2.2 million in Q3 2019 (Q2 2019: £6.7 million profit)
reflecting the impact from actions taken to maintain a resilient balance sheet, including
a one-off £2.5 million charge following the £521 million portfolio disposal in July 2019.
 Completed inaugural £350 million senior non-preferred debt issuance with pro
forma total capital plus MREL ratio of 22.6% at 30 September 2019.
 Retained position as number one bank for overall quality of service for personal
current account customers and second for business current account customers in
the Competition and Market Authority’s latest Service Quality Survey.
 Metro Bank is further evaluating its future plans to balance growth, profitability
and capital efficiency, the results of which will be communicated in conjunction with
the full year results.

[leoneobull] 24/10/2019 06:50

RE: don't see how a sale is possible...Wed 22:53No, i think the problem is the cost base, hill is a no expense spared type of guy and the expensive branches are an example of how he operates. I think with him gone, the mgt can start rationalising. Even in his old venture his profits were low, after he left and when td bank took over, profits then started to boom.

[midasx] 24/10/2019 06:48

Q3 Summary for 3 months ending 30 September 2019
 Total deposits of £14.2 billion with Q3 growth of £528 million.
 Customer account growth of 106,000 in Q3 2019 (Q2 2019: 93,000) to 1.9 million.
 Total net loans of £14.9 billion broadly flat quarter-on-quarter, with the loan to
deposit ratio reducing to 105% (H1 2019: 109%).
 Modest quarter-on-quarter reduction in operating costs and continued growth
in fee and other income.
 Asset quality remains strong, reflected in Q3 cost of risk of 5 bps (Q2 2019: 6 bps).
 Strong liquidity and funding position maintained, with LCR higher than Q2 2019.
 Underlying loss before tax1 of £2.2 million in Q3 2019 (Q2 2019: £6.7 million profit)
reflecting the impact from actions taken to maintain a resilient balance sheet, including
a one-off £2.5 million charge following the £521 million portfolio disposal in July 2019.
 Completed inaugural £350 million senior non-preferred debt issuance with pro
forma total capital plus MREL ratio of 22.6% at 30 September 2019.
 Retained position as number one bank for overall quality of service for personal
current account customers and second for business current account customers in
the Competition and Market Authority’s latest Service Quality Survey.
 Metro Bank is further evaluating its future plans to balance growth, profitability
and capital efficiency, the results of which will be communicated in conjunction with
the full year results.

[jack jebb] 24/10/2019 06:30

If big Vern is planning a takeover, it is no surprise he has had to leave immediately.

[outlawinvestor] 24/10/2019 06:29

JJ - unlikely but possible thanks to

[sentimentrules] 24/10/2019 06:26

Won't be around until 10.30 so here is the state of play

1 lot w average 204.6

1 full lot short order 225.4

1 full lot short order 176.8

Xmas is coming early my fellow shorting Spartans

See ye at the club. ..

[sentimentrules] 24/10/2019 06:23

All Hail Voxi and the Metro clown bulls too

Here comes the pain Muthafuka'a

And I'm gonna enjoy watching it.

Hahaha

[midasx] 24/10/2019 06:19

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.”

[sparky333] 24/10/2019 06:08

Agreed according to the naysayers metro was dead.Not the caseWell capitalised Accounts growing High risk loans gone Deposits on the rise Now need a huge strat shift and changes at the top All all this is a back drop of huge negative press coverage Nog to shabby considering

[jack jebb] 24/10/2019 03:44

The very fact that there are no unexpected nasties should lead to a relief rally here, imo.

[shujja1] 24/10/2019 00:57

You are crazy mate .

What was the share price in H1 2018 and the Market Cap back then .
Remind me please .😂😂😂

do you not think the drop is over done we are back on track for growth ?. .its going to rerate with a lot of shorts closing

Careful my son you are playing with fire .😂😂😂😂

[phil2003] 24/10/2019 00:31

Metro Profit:

Q1 2018: £10M... vs... 2019 : £6.9M
H1 2018: £24.1M..vs... 2019 : £13.6M
Q3 2018: £15.1M..vs... 2019 :-£2.2M

And Clearly NOT A CLUE how to turn it around apart from a glib “yeah! the best is yet to come”.. All with big vern still sat at the back of the room giving the thumbs up or down..

Absolute clowns...
DOOMED

[shujja1] 24/10/2019 00:20

I see a lot of panic in the shorters tonight. it's really funny seeing them panic.

[rumobejo] 24/10/2019 00:04

oh and the FCA fine yet to hit on the back of accounting probe ffs

[rumobejo] 24/10/2019 00:03

MidasX,

1. Underlying loss before tax(1) of GBP2.2 million in Q3 2019 (Q2 2019: GBP6.7 million profit)

2. Metro Bank is further evaluating its future plans to balance growth, profitability and capital efficiency (aka placing regardless whatever porkies they told in conf call)

3. Underlying earnings per share - basic 6.3p down from 32.6p (-81%) ffs

4. September saw net deposit outflows of GBP213 million

5. Commercial customers (excluding SMEs(3) ) GBP 2,829 down from GBP5,194 (-46%) ffs

6. Deposits from commercial customers GBP 5,990 down from GBP8,045 (-26%)

7. Operating costs 20% up to (298.5m) from (249.6m)

8. Statutory (loss)/profit after tax (3.6m) loss from 25.1m profit

9. Cash outflow at 9.5% on the £350m bond issue for yet 6 years to come


ffs are you reading the same results?!!!!

"all hail voxi, all hail voxi"

99p

[midasx] 23/10/2019 23:42

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.”

[notimpressed] 23/10/2019 23:26

230p close of play tomorrow.

[dailylarma] 23/10/2019 23:08

Phil When you bend over tomorrow, try to relax your bum muscles. Don't tense up and try to fight it.

[phil2003] 23/10/2019 22:51

Lets cut to the chase shall we..

Metro Profit:

Q1 2018: £10M... vs... 2019 : £6.9M
H1 2018: £24.1M..vs... 2019 : £13.6M
Q3 2018: £15.1M..vs... 2019 :-£2.2M

And Clearly NOT A CLUE how to turn it around apart from a glib “yeah! the best is yet to come”.. All with big vern still sat at the back of the room giving the thumbs up or down..

Absolute clowns...
DOOMED