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True.... the payment is not new news ...but the way they are paying it is.....they are not paying the whole amount in one go but are putting part of it in an esccrow account to be paid by next year which has attracted extra interest payments making the total $262m.......
Why are they not paying the the whole amount in one go?......
Not good news......it puts pressure on the already stretched finances.....
The vodafone share price has gone down from 1.40 to 1.20 since the IPO.......not a good example,,,
Not quite the yield of 8% you quoted......cud
Metro Banks rolls out unsecured personal loans
By Roger Baird 12th April 2021 1:07 pm
Metro Bank is rolling out an unsecured personal loan product across its branch network.
Applicants can borrow between £1,000 and £25,000 between one and five years at a rate of 4.9 per cent. Customers must be 21 or over and resident in the UK for a minimum of three years.
The challenger bank is offering this product across its 77 UK branches after already selling £120m of these loans online.
The loans are being administered by RateSetter, the peer-to-peer lender bought by Metro for up to £12m last August.
Metro Bank managing director, distribution Ian Walters says: “We are rapidly growing our unsecured personal lending offering in line with our strategic plan, initially via digital channels and now via our store network.”
The lender says its polling tells it that 51 per cent of people, and 62 per cent of over 55s “like to speak to someone face-to-face about their finances”.
RateSetter chief executive Rhydian Lewis adds: “Pairing Metro Bank’s deposit base with RateSetter’s lending capability was always exciting and in the space of just a few months the combination is already delivering results.
“Our aim is to offer a first-class borrowing experience for customers and I am delighted that we are now doing so through the stores, as well as online.”
The move follows the bank’s entry into the near prime mortgage market in March.
At the time Metro Bank director of mortgage distribution Charles Morley said the new product is part of the lender’s ambition to become the UK’s “number one specialist bank.”
The bank became the first high-street lender to offer near prime mortgages and said it planned to announce entry into further specialist areas in the coming weeks and months.
By Roger Baird 12th April 2021 1:07 pm
OSB report next Thursday and it will be interesting to see how they have fared during the crisis as they have a similar revenue to metro of 350m but with profits of 209m last year,,,,,,,,,,but look at their market cap 2 billion........its all down to profitability to get that valuation....now if metro can sort out that issue ......it shows the potential for the stock even despite the shorters!!.....plenty of time to get back in if they do show progress...imo
I understand that .....but a dividend of 8% plus in this low interest rate environment is ambitious even for the big investors.......a more realistic dividend is 4% and a share price 30% higher...imo Plus as the announcement earlier in the year alluding to a return to growth which will get better as the economy recovers....
"Sharecast News) - Vodafone said it was confident about the full-year outlook after its German business drove a return to organic growth in the third quarter.
Organic service revenue rose 0.4% in the three months to the end of December to €9.36bn (£8.3bn) compared with a 0.4% drop in the previous quarter. Organic service revenue rose 1% to €2.91bn in Germany, the FTSE 100 telecoms group said in an update."
Metro Bank enters insurance market with SME product
By Gary Adams 22nd February 2021 1:09 pm
Metro Bank is offering insurance products for small and medium sized enterprises as its first move into the insurance arena.
In partnership with Churchill Expert, the bank is offering seven new products across 11 industries, including residential and commercial property owners.
Other industries covered comprise tradespeople, professionals, shop and retail, office and surgery, manufacturing and wholesale (which includes hotel and leisure) and businesses from home.
The lender says that customers are able to apply over the phone or the Metrobank website while existing customers can apply though their online banking platform.
Direct Line Group director of affinity and aggregator Ian Exworth comments: “We are happy and excited to launch our new Churchill Expert partnership with Metro Bank and look forward to bringing the very best in SME insurance to Metro Bank business customers.
“With new needs and requirements emanating from the pandemic-affected last 12 months, we look forward to working with Metro Bank to continue to develop our product suite to best fit the evolving needs of SMEs.”
Metro Bank director of customer experience Kat Robinson says: “We’re thrilled to launch into the SME insurance market with Churchill Expert after what’s been a very difficult year for businesses across the country.”
By Gary Adams 22nd February 2021 1:09 pm
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