It would be cheaper for shareholders to club together and recruit someone then - rather than losing more in an ever decreasing share price. Not being transparent is costing shareholders a lot of money, you think it's cost and effort I see it differently - join the dots.
zccax, there should be value here and I agree 60 or 70 or 50 or 150 won't make much difference if it becomes obvious.
why the big secret on the numbers, why no significant and meaningful director buys, why take every opportunity to be bullish as a chance to re-enforce negativity and raise further questions ?
it's either because of complete and utter ineptitude or because there are huge structural problems - neither of which the market likes - neither of which makes me want to buy the shares - especially in what I believe is a frothy market - once again.
patience will make more money here, or at the very least reduce the chances of losing more IMO
Team one flew over the cuckoos nest celebrating like they’ve got the golden ticket - having lost hundreds of thousands of pounds between them.
Whilst team right all along with a share price pretty much at an all time low (as predicted) could if they want to buy shares in this complete sack of s(hi)T at around 71p on Monday.
Enjoy a weekend of Upside Down failure gloating whilst the pain of your daily losses dissipate’s for a couple of days.
Complete a55holes !!
only have rbd left just in case some news drops
entirely cash now having closed shorts.
No rush, no real value up or down IMO. Bigger drops I’ll build, fresh rises I’ll short. Don’t need to be pressing buttons every day - another chance to improve my short game beckons - have a good weekend.
no real euphoria, top of the trading range in the uk theo - FTSE has been in it for a month - that's all.
atm load up shorts in the morning, reduce them as we fall back, not difficult, not rocket.
banks will be the way to go, but not now and not at the current levels
and an absolute disgrace that matlot can continue to talk about this as a gold mine when he’s been saying the same things from around 260. Anyone following his made up clueless ramping now needs nearly 400% to break even.
Any normal person would be too embarrassed to ever show their face again - but not matlot, he’s still here making up the same old cr@p despite obvious views and share price action demonstrating the complete opposite.
for team paranoia
why is matlot referring to "we" on the leases - does he as I had always assumed work for Metro ?
anyone with a different and more crucially honest and insightful view is a paid shorter or deramper
- have you window lickers not noticed what's been happening to the share price - no matter what happens to the markets ?
you'll need more than a takeover to get back to your average now - well done on maybe breaking even if it does eventually happen !!
not motivated one way or another.
I'm keen to get back in and will buy the shares if I see a good reason to, I'd rather buy at 1.50 with clarity than 76 and be p1551ng in the wind. The board need to start doing their whole job properly, not just the bits that they find less demanding.
they've been a disgrace for well over a year now, and the markets will continue to punish shareholders until the BOD grow a pair and start fessing up !!!!
in business when you're slightly up against it you don't always get a choice, and even when you do sometimes choice A is significantly more palatable than choice B
remember MREL, borne out of desperation rather than sound commercial planning and foresight.
I read it as they don't want to but they might have to - so do the markets.
when you rock up to the bank and have to ask for a loan because you cant pay your day to day bills, telling them that you won't sell your house but you'll be willing to sell your car isn't usually what they want to hear as a means of security.
they said they have no appetite for a fund raise but would need to consider all options depending on how long and how severe the downturn was.
That's not the same as we won't dilute shareholders again is it ?
A fire sale of assets in a bad market, or cap in hand and to shareholders and pick off the low hanging fruit ??
They aren't generating enough profit and cash flow to pay their bills - best community bank - AT WHOSE EXPENSE ?
Thanks for sharing cud.
Not what the longs want to hear but IMO an honest appraisal of what I just listened to.
Snyder didn't attend but gave no reason why he couldn't get to Holborn - talked about staff and customers, and the BOD wanting to be the best community bank in the country - didn't mention shareholders or even once acknowledge that there were any apart from eluding to the questions that they'd sent in.
on the fund raise question - I heard something very different than what was posted on here - they said no appetite but later eluded to having to consider all options depending on how long and how bad the downturn was. What they effectively said was we'll probably have to raise money somehow ???!!!
On director buys they excelled themselves by saying that all of the directors personal circumstances were different - really they cant stump up some dosh to print some of their own money - if they really thought that was the case ?? an INSULTING answer !!!!
Dreadful on top of dreadful previous PR - clueless and inept. I may buy back in the 60's after we get some clarity on the numbers but no rush beforehand. No wonder the deep pockets hate this company. Time will tell..
(Sharecast News) - Metro Bank's chairman has warned shareholders to expect a significant rise in bad debts during the economic slowdown caused by the Covid-19 pandemic.
Michael Snyder also said changes in customer behaviour such as fewer transactions could lead to weak fee income during the downturn for the struggling challenger bank.
Britain's banks are bracing themselves for soaring bad debts as businesses and households struggle during the worst recession since world war two. Metro Bank did not report on bad debts when it last updated investors on 6 May.
In his statement to the bank's annual general meeting, broadcast on the internet, Snyder said low interest rates and government intervention in the economy would support repayments and Metro had a conservative loan book.
"Nonetheless, we are seeing short term economic disruption which will naturally result in significantly higher credit risk impairments than in recent years, with the actual quantum depending largely on the magnitude and length of the economic slowdown," Snyder said. "We have also seen behavioural changes, such as a reduction in transaction volumes, which may result in lower than expected fee income for a while."
Like other companies Metro is not allowing shareholders to attend its AGM because of distancing restrictions. The meeting was held with a minimum number of people at its London head office.
The meeting took place after a year of upheaval for Metro that started with the revelation it had underestimated the riskiness of £900m of commercial property and other loans. The bank's share price plunged and the Financial Conduct Authority launched an investigation.
In September, Metro had to cancel a bond sale launched to strengthen its finances and in October founder Vernon Hill quit amid doubts about the company's governance. He was followed two months later by Craig Donaldson, who had led the bank since its establishment in 2009 as a challenger to Britain's big lenders.
Snyder thanked Hill, Donaldson and four other directors who had stepped down from the board in the past year.
"I would like to pay tribute to Vernon and Craig's vision and dedication, through which Metro Bank grew from a standing start to over 2m customer accounts," he said.