Member Info for zccax77

That is like a third of their current MCAP.

Credit provision: £30-£40m
MREL Cost: ~£16m
Reduced fee Income: £10m

Personally I am expecting a £50-60m loss for H1

Yuri- F Lloyds applied a 6% provision on their credit card business. MTRO have £3m of credit card balances.

Cud as I said before MTRO do not apply AIRB and are therefore not as thinly capitalised. Their mortgage book is £10bn apply the increase in provisions which Lloyds have applied for H2 of 0.2% and you get £20m. We will see in less than a week whether Odey's £300m prediction comes to fruition.

Cud if MTRO were to apply the same provisions as Lloyds, that would be another £20m of losses.

Look at VMUKs provisions. They only had £31m on a £60bn mortgage book. Metro have a £10bn mortgage book. Plus VMUK actually reduced the provisions on their commercial book.

In that relationship Shirley is the El captain. No wonder we are where we are.

Just went through their Q2 results and they have booked almost no COVID-19 bad loan provision. Maybe that is why this rose today in the afternoon.

"The percentage of non-performing assets to total assets decreased to 0.31% at June 30, 2020, compared to 0.53% at June 30, 2019. The ratio of non-performing assets to capital and reserves decreased to 5% at June 30, 2020 compared to 6% at June 30, 2019 primarily as a result of decreases in non-performing assets over the last 12 months."
https://www.globenewswire.com/news-release/2020/07/27/2067924/0/en/Republic-First-Bancorp-Inc-Reports-Second-Quarter-Financial-Results-Named-America-s-1-Bank-for-Service-by-Forbes-Magazine.html

“It is a universal consensus that given the headwinds, investing in banks is as stupid an activity as investing in oil majors,” said Richard Buxton, head of UK Alpha strategy at Jupiter Asset Management. “It is unlikely that anything revelatory emerges from this reporting season to change that.”

“The economic downturn clearly means a big pick-up in bad debts,” he added. However, “I am extremely confident that whatever the damage to [profit and loss accounts] from the crisis, it does not mean they need to raise additional equity capital.”

https://www.ft.com/content/d42d735a-9aa3-454e-955a-3e0b22eda03d

IAG have a massive base in Madrid for Iberia, this will be the reason for the drop.

Now that they need money to shore up their own business, will they buy Air Europa?

I think Odey will increase upto results. Q2 results is his big day since he is expecting a big loss. I think the others may reduce though.

Wonder If Hill will be attending.

Buffet bought more BoA yesterday. Maybe that is what gave the market confidence.

BP: No, but would like to buy some. What price you reckon I should buy?

Next week we have all the banks providing Q2 TU's. The tozzers at MTRO not only did not provide a TU at Q1, but are now not following the market and providing their TU 1 week afterwards. I am not surprised the whole market does not trust them.

BS - Great news, exactly what is needed. When are they going to approve Metro's AIRB application. It took VMUK five years, and Metro only applied in Jan 2018, hope it don't take until 2022.

You really think a outfit which employs slave labour to bolster it's margins will continue to operate as is? Watch over the next 12 months how their operating margins get decimated when they have to pay people minimum wages.

Whole market up and this turkey goes down.