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At least we see new billionaires will stir whole BOD to do something else . He have powers to make thing moving other direction and he got experience to do that with many small banks. Basic he will be commander of new Metro and we hope strong cutting cost and great mortgage offer will return more next year results.
This March results will great as they make the first profit year so hopefully share will rerate as on half year report so they make a great moving from lost making to profit 16 million.
New more customers. Reduced cost based. Reduced open hours. Cutting cost 50 millions from this year and more aggressive than normal mortgage offer will return for share holders.
Tg2d
i do not think Metro are in a position to buy anyone at the moment
turn the ship around yes
Jaime
On on today's Board meeting who should we buy first?
Jaime Gilinski Bacal will join the Board as a Non-executive Director
Them meetings should be fun
At least now there is someone on the board that knows how to run a bank or turn an unperformed one around
Motley fools are a bunch of self-promoters....every op ed they do on a share says something along the lines of 'well on the one hand this is positive, and the other hand this is risky...would i buy? No I wouldn't....and then they go on to insert their EVEN BETTER alternative recommendation that they are clearly being incentivised/renumerated to promote - utterly STINKS to high heaven.
Anyone know when this us due, I can't see it anywhere?
Never a surer sign, twogood starts to ramp, expect the opposite to happen
Well that was a S#it day taken all of last weeks gains back in 1 day
546 posts all negative over the last 3 years and all on Metro Bank BB.
Someone seems desperate to spend their life's on one solitary BB for like three years..is it because you bought at £40 and hold a grudge with the bank now the share price is a fraction of that, it would seem so!
Keep ramping sunshine, laughable
Cyberpuppy
Member since 22nd January 2021, 3 years.
545 posts to date.
100% posted on this BB and all negative.
Two good will always ramp, been doing so since it was £1+, just look back at comments and draw your own conclusions on metro
Average share price of 70p some say 40p big difference
Not sure an acquistion is on the cards at the moment sort out head count first get Metro's house running like clock work.
Most of all show a good profit
As Gilinksi has invested £103m with an average share price of 70p there is every incentive in getting the share price to recover be it through cost cutting, gaining market share, or growing through making an appropriate and timely acquistion.
He sees Metro Bank as a highly under valued growth stock within a mid tier bank market ripe for consolidation.
I like this part in the Fools
But we’ve since heard that the firm’s “recent capital package and cost reduction plan … has renewed balance sheet strength.“
From the Adfvn BB
paul planet earth1
21 Jan '24 - 08:39 - 90605 of 90607
Jenie
"What's currently underpinning Metro share price?"
Metro Bank is profitable and cash generative so despite the recent recapitalisation to cover historic losses the banks profits have been growing on the back of a rising interest rate environment. Banks make most of their profits on the back of the spread or NIM 'Net Interest Rate' margin between interest earned on lending less that paid on deposits. The higher the interest rates rise the bigger the spread and hence NIM.
Most of the fixed cost base that is 70% of lease costs of the branch structure are covered by security lock box revenues with Metro Bank Number 2 market player in the industry.
Labour costs are dramatically being cut by 20% or 800 staff and opening times reduced from 7 days to 5.5 days which is a very sensible move aligning Metro Bank's cost base with the industry average.
Market cap is a mere £250m for a bank handling £20 billion of assets. Similar sized banks market cap would be closer to £800m.
Metro Bank has drawn the interest of several other banks looking to acquire it but no doubt any offer was deemed too low.
Gilinksi owns 53% of Metro Bank having invested £103m and saw the opportunity to step in..The issue here is that on the one hand he is a seasoned financial services investor having entered and disrupted other bank markets through acquistions, mergers, and aggressive cost cutting and growth..
On the other we as investors don't know his long term plans be it take the bank private on the cheap in a year or so although institutional investors nursing large historic legacy losses may resist, dump his shares over time on retail as the share price recovers, or grow the bank through a combination of aggressive cost cutting and acquiring similar sized mid tier banks given the already highly competitive nature of the bank market with a view to sell on Metro Bank to a much larger bank rival in future at many times his current average holding price of 40p.
My view is the later he wants to keep Metro Bank listed, grow the bank as stated with a big acquisition, and sell on in 2 to 3 years time to a much bigger rival.
This appears to his modem operandi that he has used on several occasions in both other bank markets and other non bank markets.
HTtps://www.fool.co.uk/2024/01/21/could-metro-bank-be-the-best-value-stock-to-buy-right-now/
@tuan6 They have issues 500 millions shares so at any time you can buy a lot
Those shares that were issued @ 30p are held a % by our new owner who has 51% control of Metro if he is selling he would loss his controlling % No chance that is happening
They have issues 500 millions shares so at any time you can buy a lot and it will take some time for cleaning all that shares. That is why day after day more sell than buy but share price not drop as it hold thar value.
Been observing the daily trades of Metro bank over recent weeks since the fund rise and I'm finding it difficult to understand that when on days when sells outnumbered buys by 2 -1 or higher like last Friday the SP actually rises. Grateful if someone can explain what's happening and when this relentless selling will come to an end and what is likely to happen then to the SP ? Appreciate constructive replies.
Looks like Metro Bank is aggressively targetting growth be it by growing market share, through acquistions, while drastically cutting its cost base!
hTtps://theintermediary.co.uk/2024/01/mortgage-price-war-rages-while-others-take-a-step-back-brokers-react-to-metro-bank-rate-drop/
Seems to have stabilised nice end to the day.
Yes. Well, to clarify, a central UK branch I use, have just notified me of amended openings which now incl. (Shortened) Saturday hrs. No Sunday.
Just been notified.... branches have agreed to Saturday shortened open hrs - to appease the SDB and W/E customers - I'd suggest.
you added i suggest are they keeping still open on Saturday then . thanks