Member Info for NonPartisan

Lending in general down 9% on same Qtr 23.

Q2 will elicit more detail. Staff and cost savings, impact of short hrs on deposit/accts/SDB income, i cant see anything moving the dial in the q1's. In fact pulling the high Deposit rates might have neg impact on deposits. Metro need a big initiative other than a bit of incremental nibbling at costs imho, that won't be anywhere near enough. SP has been steady 5 -8% growth last 1-2 months on sentiment to board appt/changes, cost cutting, but nothing spectacular.. but at least the hole in bucket seems to be plugged.

All that is all very well, but mkts just not buying it - it's shelved 1/5 of value in 6 days !

Just for all the stragglers struggling to keep up with our soap....my unbiased review of the week !

Mortuary dodger says keep the faith peeps, still much to come ...

Son of natter box opines ( albeit non-concisely) to the contrary we are probably doomed !

And Space Pup feels frankly a bit ignored (since Mortuary dodger got a new adversary), but is sticking to guns and reluctantly confers with Son of nattering, but more concisely ...

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 !

Https://www.sharewise.com/us/news_articles/Appointment_of_Chief_Financial_Officer_Metro_Bank_eqsen_20240229_1000

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.

You were right, @ 4% drop sans opening !

Might be wrong, but if I recall correctly, 31/12/22 results published first week of March I think...

I like your optimism....to me it feels like catching a falling knife (in the palm), before it hits the table top - a la Blackberry!

12 % loss in last month, when will it end.!? I'm worried the y/e Accts being drawn up will elicit a balance sheet that show a very significant drop in customer deposits (as their saver rates won't have covered the Oct debacle outflows) and it may get get even more worse

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.

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.

Frankly, they should not just be left to shuffle off with tails between legs, they should be under retrospective scrutiny like PO bosses.

52(%)cents wielding the axe. He has to.

Just been notified.... branches have agreed to Saturday shortened open hrs - to appease the SDB and W/E customers - I'd suggest.

There's another bit of an issue with these new hrs according to a branch manager I spoke to.

Namely, safety deposit box holders unhappiness.

Their rentals pay 70% of branch costs.

Many people he said like to go at weekends and considers that they are likely to cancel their contracts and move to independent safety deposit box companies.

Up 5% today ... Could this be their renaissance!? Oh yes it is, oh no it isn't ...

I don’t think this is good at all. With arrears soaring now they were probably getting derisory (perhaps 85%)Cents on the dollar offer on the book. They are now between a rock and hard place. Selling it they could buy other more profitable business. Now they can’t and RNS lost /in the weeds means no extra lending…they are stuck in a vacuum of being unable to anything to shift the dial enough. Somewhat Grim unfortunately…

You two need to get a room !

You asked for a Q4 guess.

I suspect it will be adjacent to woeful and Bal sheet will still look out of sorts.

Oct outflows were huge as was the sdbox closures.

Late November they've been trying to plug the deposit hole with attractive rates....but by y/End 31/12, I don't think that push will make up anywhere near the outflows.

Just as well they are not upping their lending quotas last qtr, as probably still bouncing off ratio % / cap.ad buffers and delinquency rates souring in general (toward 2009, but nowhere near 1991 levels yet!).

Genuinely hope I'm wrong as I want to get back in asap.

I Feared it would settle at c 32p (hence I got out the morning of the EGM) and it's coming to pass, but I take no pride in it.

They need to put a cohesive plan in front of the market, and pronto...