Member Info for zccax77

Does anyone know when Metro will be accredited for this scheme?

I brought a tonne of oil shares in the last few weeks as well. Oil will go up like it always does simply because there is no other cheaper way to haul 2 tonnes up a road than the black stuff from an energy density perspective.

Even the BOE estimates that 20% of these loans will never be paid back.

Goodwill and intangles (except software) can only be created through business combinations. Metro if ever there was a business combination would result in negative goodwill/intangibles, if there was ever such a thing.

Panderman, have you seen AA's balance sheet. Their debts will take forever to pay back. Not sure if they are relevant in the age of the electric car where there are fewer moving parts.

I see Hill has only booked a $1m Covid-19 NPL provision for loan balances of $1.8bn in Republic Banks' Form-10Q filing.
Not sure why Odey is expect MTRO to have a $300m provision, maybe he added one too many zero's.

http://investors.myrepublicbank.com/Cache/IRCache/86dbdd05-23d3-a83e-b728-cc88fc694544.pdf

I see VMUK flying away and almost doubling from it's lows and this turkey is barly green.

"Metro Bank's SME lending amounted to 27% of its loan book, while unsecured consumer loans were immaterial."
This is wrong their SME loans are only 17% of their loan book and only 11% of their total assets. What Fitch are capturing is their professional BTL portfolio into their commercial loan book, not sure the two have the same risk profile.

See p.139:
https://www.metrobankonline.co.uk/globalassets/documents/investor_documents/metro-bank-annual-report-2019.pdf

This thing is not going to move until management put out a proper statement re expect credit losses. This is likely now likely to be in late August.

Dan did say they would improve this going forward in Feb. Guess it is best to watch what they do and not what they say.

There is a reason they pay 9.5% MREL, absolute blase attitude towards investor communication.

four years is a long time. Where I work, the average tenure of a director is 18-24 months.

So the chairman made gross £130k from metro last year and brought £80k of shares. Shows conviction.

That is like 65% of his annual take-home from Metro.

That is a risky investment for the chairman based on his age, being so close to retirement. Shows confidence.

Based on the joke of an TA they put out, no fund manager would touch this.

Question you need to ask is whether you think commercial property values will fall more than 50%. If they do, then a RI might be needed. But then you have to ask what is the point of a CET1 of 15.6% versus a regulatory requirement of 9.5%, the delta is about £500m of surplus capital which is currently unutilised.

MartyPoppins did you see what happened to Avianca over the weekend?

Metro's residential loanbook is unlikely to have much defaults. So what Odey is saying is the their corporate loan book £3.5bn which is has a LTV of 59% will fall by 50%? I am not sure what Odey is smoking to come up with the 300m figure.

short positions in mtro are not cheap, so Odey wants them to issue an RNS hence the article.