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I was wrong that the stock would rise after the results. trying to catch the bottom is of course hard. The results were better than I expected, especially the deposit figures, I expected 14.5 billion and stagnation despite the successfull campaign. it turned out deposit is 16.5 Billion as of February. the guidance was lowered so that must be why some are disapointed, but overall these are better results than I expected. oversold?
Cyberpuppy
Yeh that's right explain how institutional investors would react to a 30p buy out offer from Gilinksi and what precedent and regulations apply under Company Law...that's assuming you can read lol!
LegalBeagleUK
Minority shareholder protection go and do some research on UK company law and while your at it change your user name!
Tg2d
''and given the growing M&A activity in the mid sized bank sector.''
forget that - Metro needs to fail or succeed on it's own.
I am not sure that a £233 million valuation of Metro qualifies it as a mid sized bank . It is very small change even for a small bank to be able to purchase.
Even VM is being valued at getting on for £3 Billion
Let’s just all have a biscuit and come back in May!
i predicted that level of outflow 3 months ago. 4 days on the share price has shelved 8.5%. the mkt doesn't buy this 'shrink your way to greatness' bs. metro bank has no usp anymore and they could attract customers away from their existing banks before when they they were at your beck and call - now they are the same they will have no chance. a branch i visited said their safety deposit box customers had left in droves, as weekend s visits not available (about 15% had closed and some their accounts too) which very bad for branch cost coverage their main point of installing them - all this ramping nonsense is just ****-gravy, sorry, but it is !
no actually i was ****ed as a fart and commented on the wrong board but hey ho roo on it's way up today from a very low price! :-)
Like a pheonix slowly rising from the ashes.
£30m extra savings on top of £50m already penciled in mainly to be realised by Q2 this year.
The next half year update should be interesting as Metro Bank is returned to profit 📈 and given the growing M&A activity in the mid sized bank sector.
htTps://www.cityam.com/metro-bank-swings-to-first-annual-profit-since-2018-after-slashing-staff-numbers/
Xwave10
I was going to mention that but thought another waste of time poster on all BB
Jk,
you gonna say how well you've allegedly done on every board??
TWAT!
Hey guys. Too many emotions here. As someone who has done very well investing low (RR, Invididia more recently even ITV, some others long list, I wait on a few but most l
Glowacki
You put a sell at top of your post
so you own no Metro shares correct
It's bad enough making a loss for yet another year,but what makes Metro bank investable is is what the CEO said with regard to 2024.....that costs of continuing restructuring will carry thru and impact on 2024 profits..
But then if my auntie had 8lls she's be my uncle.
Surly some of the problems lies with the CFO & to bring up 2+2 =4 not 7
The CEO should go also as has the old CFO
If the CEO had raised equity capital before the cliff edge of refinancing ,retail investors would not have been diluted down to 25% of the ownership
If the CEO had not promised the market IRB and then had to retract prompting a run on the bank we would have £1.5b more current accounts and atleast £70m more income
If the bank had actually hedged its assets so that its treasury book was yielding base+20bp not base -450bp and its mortgages base + 100 not base -250bp we would have had another £200m of income...
Then by my calculations the share price would be somewhere close to £3.50 share.
But then if my auntie had 8lls she's be my uncle.
Due to one off factors … namely the need to stop outflows from last year." So again. break that down. We can see that the bank lost £1.5b of current accounts which cost 0%
Yes the outflow was due to media news that Metro was / needed bailing out/brought out.
So yes people panic when there money is in danger
I know i would take my money out but hopeful things have calmed down & with these New branch's opening up North Metro can start saying good bye to the passed
Agree re Peston. Incidentally did you see the opening line on the BBC article today?
"Metro Bank is to end seven-day trading in all its branches and cut about 1,000 jobs after reporting huge losses."
I'm pretty down on management but "huge losses" is not a sensible way of presenting it. I hope they correct that.
https://www.bbc.co.uk/news/business-68554199
“Yes if there were no outflows due to Metro going bust they may have turned a profit‘
I’ve yet to forgive Robert Peston for the run on Northern Rock or his leaking of insider information on the takeover of HBOS - where the fears incurred costs.
Don’t have much in so didn't pay attention to the sell off last year but steadily got the average down from 70p to 43p as a bit of day trading fun post December.
Curiously enough, I find my levels of concentration proportional to the amount invested.
"Meanwhile, think about demanding accuracy whilst being sloppy about stating Q4 losses … these were due to one off factors … namely the need to stop outflows from last year." So again. break that down. We can see that the bank lost £1.5b of current accounts which cost 0%. They probably lost a chunk of other low cost instant access savings accounts which we cant see yet. The bank has lost those deposits which it could park in cash at 5.25% and make >£70m That is not a one off. It has lost that income until it gets that volume of low cost deposits back.
WHat the bank chose to do was to keep the cash at 5.25% and raise new deposits at a loss leading price to fund it. they could have raised a load of deposits last year if they wanted to lose money. But they decided not to. Presumably they decided to lose some money in Q4 because they preffered the optics of a growing deposit base, rather than shining a light on the deposit outflows in October.. But the eye roll of the CFO said it all. They clearly got a ton of new deposits in at a loss, and its killing NIM. They can roll off the excess but they can't get £1.5 of Non-interest bearing balances back any time soon. So again, sorry to have to explain the basics of banking to people, but the losses are not one off. they are driven by the mix shift in deposits driven by outflows of low cost deposits. The bank needs to get them back- but there is no credible strategy to do so. Slashing costs by firing all the nice people in the front line isn't helping there that is for sure
Twogood has been wrong from the outset, proof all there. I really need to learn to ignore but can't help having a laugh at times
Yes if there were no outflows due to News That Metro going bust they may have turned a profit
Meanwhile, think about demanding accuracy whilst being sloppy about stating Q4 losses … these were due to one off factors … namely the need to stop outflows from last year.
Yes if there were no outflows due to Metro going bust they may have turned a profit
And you TwoGood2Die have the cheek to call others deluded when you think Metro is valued at over a billion lmao! You sir are out of touch with reality.
A loss is a loss whichever way you slice it. There are some posts here clearly hoping for unicorns and rainbows - good luck with that you'll need it.
Losses that average £10m a month in Q4 …. Explained in the results from the shenanigans last year …. I’m still bemused at METRO booking a profit for 2023 that is presumably taxable or at least offsets losses from previous years .,.. only about 10% of firms historically post statutory profit ahead of underlying profit so I found out late this morning and I’m annoyed I didn’t dig further earlier … but such is life, one takes it on the chin and moves on.
Meanwhile, think about demanding accuracy whilst being sloppy about stating Q4 losses … these were due to one off factors … namely the need to stop outflows from last year.
Gilinksi planning to grow Metro Bank & the new CFO who has held some good positions in Banking will turn Metro around.
Metro need to bring in more account holders were they can earn a little on deposits .
Shame they had the out flow of funds as imo they might have made a profit ?