Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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I’m hoping 40p by end of the week then onwards & upwards to 50p in coming months, got feeling the worst is over for Metro GLA
£50m of cost savings should now be feeding through to cash . Interest rates will be higher for longer helping metro to radically increase profits. The bank must be on a trajectory for £70m of annualised profits once the costs have been fully eliminated. Also big talk about the Great British ISA allowing investors to stick £5k pa into British companies annually. You won't get these below 40p for much longer
Yes
Reduction in opening hours at metro are already been done
Page is set to oversee a 20 per cent cut in staff and a potential reduction in opening hours at the branches Metro Bank has built its name on. He will also be tasked with boosting the bank’s share price, which is down 77 per cent over the last year.
Pay the right people the right amount to do the right job good appointment
Game changing appointment - I'm sure the new CFO must be comfortable with Metro and would have completed key DD before accepting the role. Very exciting times ahead post results next week
The size of the co-op and mutuals sector.
Under a Labour government, there will be a level playing field for low-risk, member-owned organisations that reinvest their profits, say Tulip Siddiq and Joe Fortune
The Labour Party’s financial services review was an important step in outlining Labour’s plan to work hand-in-hand with businesses and the financial services sector to drive economic prosperity.
The review reaffirmed our first priority in government: to provide a secure platform for growth which builds on the strengths of our economy and gives citizens across the UK financial stability.
A key aspect of the review was our commitment, in partnership with the Co-operative Party, to aim to double the size of the co-operative and mutual financial services sector under the next Labour government.
https://www.cityam.com/labour-will-double-the-size-of-the-co-op-and-mutuals-sector-a-b/
DYOR
Standard Chartered was among lenders reporting a 19% bump in full-year profits on Friday, with pre-tax profits for its final quarter of 2023 hitting $1.1bn, and $5.1bn for the full-year.
This month all of big banks reports huge increase profits compared with last year . Yes high inflation and higherst interest to control it have help bank making a lot money than normal . It us not long ti see how much Myro can earn this year as the report from Q1 to Q3 all very positive so the full year so be very nice to read indeed.
Bought in today for the first time, just over 21k buy so fingers crossed we can go on a run at least back to 50p for now, I hope to be adding another 20k in the coming weeks GLA
Might have filled the huge hole in the deposits (for y/E Accts and any 'notes' for first two months) with that highest in UK rate for last 4 months (at expense of profitability no doubt) - now e they've shuffled back into pack with lower more profitable offerings.
Might bode well for figs next week me thinks.
Time to top up for the bull run
You were right, @ 4% drop sans opening !
I'm expecting a slow share price recovery as the financial results due out I belive on the 13th March point to a better than expected turnaround..Gilinksi on board slashing the cost base by £50m and bringing his financial services sector market expertise to bear is beginning to bear fruit..We could see Metro Bank soon moving onto the acquistions trail this year..
I hope after full year rns public some big institutions come to Mtro as they can sense this company will recover and can bring growth in future. If that happens its share should going up faster and as high as last year.
A first year of profit ever and expand to old faction high streets still hold it value.
Why would he need even more cheaper, he has over 50% and a billionaire. He is looking "hopefully" at where the share price will be not knocking it down a few pence. My avg is 40p n sons is 54p (got him to buy too early. So let's smash through the 39p
I was just saying there seems to to be resistance @ 38-39ish, I hold metro so I hope it does rise, I was just commenting on what I see but if it does drop I will buy in again.
I guess that with nearly all significant shorts being closed, Bacal effectively in charge, a NAV of circa £4.50 and upcoming results he would like to get some slightly cheaper before these significantly rise!
What you mean?
Wouldn't be suprised to see it fallback now.
Whole last year interest increases so much so all bank will getting big boost as income increases. Nothing hide behind this fact and next month will show off its true picture.
NatWest Bank reported a 20% rise in operating profit and confirmed Paul Thwaite as chief executive on a permanent basis. The bank on Friday said 2023 operating profit came in at £6.1bn. Total income rose to £14.7bn, up from £13.1bn a year earlier.
TBC Bank Group reported significant increases in net interest income, of 26.8%, and net fee and commission income, of 27.8%, in its full-year results on Friday, leading to total operating income of GEL 2.37bn (£0.71bn), up 14.6%. Despite a 36% increase in its total credit loss allowance and a 24.2% rise in operating expenses, the bank still achieved a profit before tax of GEL 1.33bn, up 7%. After a 20.3% fall in income tax expenses, the bank reported a profit for the period of GEL 1.14bn, up 13.6% year-on-year.
could metro increase it's net interest income also ?
dyor
Morning all
Am a new and novice investor who's been following Metro and the commentary on this chat board for a while now.
Decided to take a punt after I made a tidy sum, more by luck than an astute understanding of the market, following the sale of DX Group.
Without any hesitation I will add that the PIs on the DX Group chat were absolutely fantastic for bearing up with my beyond amateurish questions at times.
Notwithstanding DX Group's shenanigans with Corporate Governance and other issues, I learned an enormous amount from the contributors on that chat.
Onwards, upwards & GLA
Bought two lots at 35p .. cleared one lot for the next low.