Member Info for Pacman121

Into October trading update. 2 weeks away. So any day now unless they want to bet on a poor update. Strong growth has already been identified in July results and continued over summer. I would imagine the shorts have made a lot which could be seriously reduced if they are still exposed into a positive trading update. Not worth the risk. Odey seems quite desperate to make up his insane failures this year and if one short closes they'll all close which is what we want. Boom.

Here's the last bit of that article:

'It looks like some shorts were closing on Friday given the share price rebound as they bought back shares to settle their positions. I would be very surprised not to see a further rebound today'

This is going to be massive. Might even turn out to be the best investment/trade I've ever made. 2 sleeps till we know.

A record number of small sells going through today (sub £900) compared to buys in the £000's. Stock is being fished for again. Am I right that shorts have 2 weeks to declare change in positions? Seems they are finally bugging out.

MREL concern which took SP from £3.19 to £1.55 now addressed. Once implemented BB+ should be reinstated as its just a credit thing which Metro are behind with due to higher lending growth than anticipated.

H1 Summary

Total deposits of £13.7 billion, in line with H1 2018, following net outflows of £2.0 billion in H1 2019. Deposit performance in the second quarter impacted by intense speculation at the time of the capital raise, primarily driven by a limited number of commercial customers withdrawing deposits.

Total deposits have returned to net growth. In the last eight weeks, including July month to date, we have had net deposit inflows of over £700 million.

Growth in retail deposits during H1 2019, with stable performance of the SME deposit bas

Year-on-year loan growth of £3.0 billion, up 25% to £15.0 billion. Loan growth was reduced by the planned disposal of a £521 million loan portfolio previously acquired in 2017, which is classified as held for sale as at 30 June 2019 and executed 24 July 2019.

Strong asset quality reflected in low cost of risk of 6bps (H1 2018: 8bps).

Underlying profit before tax of £13.6 million in H1 2019 (H1 2018: £24.1 million). The year-on-year reduction includes the impact of adopting IFRS 16 from 1 January 2019 and interest expense on the Tier 2 debt issued end June 2018, as well as market compression in mortgage rates and the sale of treasury assets during the period.

Statutory profit before tax of £3.4 million in H1 2019 (H1 2018: £20.8 million) also reflects investment in the bank's transformation programme and remediation costs as we continue to progress remediation work following the risk-weighted asset ("RWA") adjustment in January 2019.

Successful completion of upsized £375 million equity capital raise to support growth resulting in CET1 ratio of 15.8%, 16.1% pro-forma for the loan portfolio sale.

Upgraded cost saving guidance as transformation programme progressed. Exit run-rate cost savings in 2019 expected to be at the top end of the previously indicated £15 million to £19 million range.

Fee and other income increased 61% to £46.4 million in H1 2019 (H1 2018: £28.9 million) and 7% quarter on quarter, driven by continued customer account growth and the development of new value-added services.

Number one bank for overall quality of service for personal current account customers and second for business current account customers in the latest Competition and Market Authority's Survey.

Customer account growth of 190,000 (H1 2018: 201,000) to over 1.8 million including year-on-year personal current account growth of 23% and business current account growth of 19%.

Metro Bank will commence the process of recruiting an independent Non-Executive Chairman and has also appointed an additional independent Non-Executive Director (each separately announced today).

Really nicely off last week's lows. Coiled spring.

Tried to rise again early doors. Engineered drop again. Not normal. Correction coming.

Bond being pulled hit the papers at 2pm, after it was pulled at midday. Who told you 4pm? Doesn't add up.

That was a lot of nothing statements in one article.

No weight whatsoever for anything published. What's the point?

Already 3pm and only c3.5 mil traded today. Much lower than past 2 sessions. Today and tomorrow will be key. Lots of money waiting on the side. Think this dropped 70 points in one day so a rise into mid 200's wouldn't take much. Remember every sell has a buyer - and again was to much for PI's so must be accumulators. It could be argued that traders are here but most would have been locked in on their first attempt given the range so think traders are irrelevant here for the moment at least.

£835k buy following on from £825k a couple of hours ago. Looks like solid support is building in the 166-171 range. Volume not as aggressive as yesterday. SP def being manipulated, BOD quiet - very rich and experienced so may have decided if you can't beat them join them and be stacking up on the quiet. Either way this needs to move north for heavy weights to benefit. Shorts are pushing their luck now and they know it. They probably didn't expect the bond to get pulled and have made more than expected - so can afford to roll the dice on the direction of SP as they were happy challenging it last week between 280-319p. If those buys are shorts closing expect an upward snowball following declaration as the other follow suit.

Gutted it fell to this level but with c£2b in assets, cash in excess of market cap, a strong PE and growth in new account openings (highest on the high street )and deposits the disconnect simply has to correct. PI sentiment is low but only accounts for a fraction of what is going on here imo as the big boys are in play manipulating this to pieces.

Buys are mostly £000's and Sells only £00's. Algorithm still in play. Volume has been huge last 2 sessions and continues today. Consolidation and accumulation by the looks of it.

Cash and assets equivalent to around £12. Sale price £4.50 - £5.00 on positive Q3 results (released 24th Oct last year). Board very quiet, offer would need to be announced to market obviously. Metro aren't in bad shape vs market cap. They are victims of their own success in terms of 1.7billion in loans as they have reduced their safety ratio. They have grown pretty seriously and significant business returned over summer.

Drumming up £200mil from billionaire friends who have already piled in 100's of millions doesn't seem that much of a far cry any more.

Metro has just shy of £2billion in assets and showed a 23% yoy growth in new customers making it the most popular bank on the high street. Quite handy they stay open till 8pm. New drive thru bank opened this week as well. Trading at 40-50% of book value. Q3 update will show strong results and PE will also probably be very healthy.

No doubt going to be hit with multiple updates in October. Q3 update, MREL update. Shorts can take a couple of weeks to declare (?) so could be selling into rises and buying back to support the down trend (retail couldn't do this)Trend will reverse sharply imo. Don't forget these guys make money on the way up too so they will want it to rise at some point. Those wanting lower entries here are irrelevant as this is not a £5m AIM company etc. so will have no influence and are basing their buy in prices on guess work alone.

Remember the MREL £ requirement is just a new tick box exercise for UK banks to be compliant with the Bank of England. Metro have around £350m in cash (higher than the market cap!!!) And 1.7bil in assets. They could always sell loans to get the MREL requirement. The financials confirm this. Deposits are growing etc. Like me imagine their are no real bank experts here but there is a fundamental disconnect in the price. Retail investors won't be influencing this as we're not putting up enough cash. So the price is being manipulated. And yes, would have expected an update from the bod.

Times:

'Metro doesn’t need a rescue takeover because it has a substantial equity capital cushion'

Blue day :) Shorter panic :))Trolls will zip up :)))

It was the negative, bias, press that elicited the snowball coupled with volume here today. Tomorrow the positive press will reverse that. Agree with the below views on statements and timing.

Brilliant take lolz. Love 'dick trolls' ahahah!

Any company is for sale at the right price pokerchips. They would be approached - or a reverse takeover via stock accumulation (but that's unlikely here)