Metro Bank Share Price (MTRO)

Best keep out of unsecured loans i say keep to the bread and butter and we will soon have nice savile marmalade . This could be a great earner !!!!!

I remember, being stated as the saviour for Metro when it was acquired, by the ever hopeful shareholders on here , that would grasp at anything.

Once there were hundreds of posts on here daily from those same people thinking that a return to £40 a share was just a matter of time once this that and the other had happened, to now being hardly any. How times change.

https://www.themarketingeye.com/blog/whatever-happened-to-ratesetter/

Further to my previous comments “screw Barclays analysts”

I re-iterate that.

Everyone knew Petrofac was petrof@cked for at least 3-6 months but Barclays analysts have only just cut price target from 80p to 10p.

Woeful analysis, Enough said!

Ratesetter has been shut down and most of its staff fired. Given there were around £30m of costs when it was acquired probably makes up a fair chunk of the £50m cost save. Management line was that unsecured worked better in low rate environment- but that is code for saying tehy wrote a load of loans in 2022 at less than 5% - unhedged of course- so the book was underwater. When Galinski demanded cost reduction it was an easy target. But lo and behold it turns out that if you close a business that was writing £1.5b a year, you end up with a gap in your lending the following year. But nevermind, they can take some wild punts on £45m loans to individual businesses and expand their concentrated lending in Care Homes and Hotels. What could go wrong?

Quite a hefty sum for recruitment company. Let’s see how this pans out