Member Info for zccax77

Is now actively calling them out in the press. clearly he is not willing to wait until Q2 results. Wonder if management will issue an RNS re press speculation?

" Either way, I cant imagine regulators allowing Metro to release detailed H1 results in its current state and under a bad recession without serious mitigating action"

Jinny, MTRO does not even apply the IRB model, therefore on a like for like basis compared to the other banks it's CET1 is even higher than it's peers. I am not sure what other mitigating action they can take.

77m is tiny, was expecting 1.2bn

Took these clowns 5 weeks to produce this RNS? They need to sack them.

Theo, have you even read their financial statements? they hedge their interest rate exposure through derivatives/swaps.

Jinny I doubt there will be a sale in this environment. Best to hold for the next few years and watch it recover. This thing is still growing deposits at a rate of £100m a month and a 100k customers a quarter.

The most salient parts of the loan book are:
-LTV 60%
-£400m exposure to the hospitality sector
-£60m exposure to retail
-£200m of retail unsecured lending
-£300m of invoice financing

The unions will destroy this business I feel.

Matlot have you read the R&A? what do you think of their loan book?

Has this transaction gone through? I thought it would complete in H2 2020?

Goldman, which lends to consumers under its Marcus brand and issues credit cards offered by Apple, has seen 10 to 20 per cent of such borrowers request to defer payments since the coronavirus crisis, according to a person familiar with the matter. The take-up varies across products.

https://www.ft.com/content/83f2cd12-baaf-4e6f-a4a0-b918b1a8297f

Some analysts were praising Marcus/Goldman a few months ago and deriding Metro for their low profits and NIM, well looks like the tide has gone out and high NIM = higher defaults. Be glad Metro's loan book is fully collaterialised with a LTV of 60%.

This is good news, I have some BP. Hopefully force the marginal players out the industry. Expect oil back at $100 p/b within the next 24 months.

Question is who is selling these shares, Cohen?

FCH, not many shares were available at 22p. plus not sure it will still above 100p for long with the implosion of the p2p sector.

Someone has to pay for the dog biscuits.

https://www.inquirer.com/news/cares-business-coronavirus-bailout-vernon-hill-trump-toomey-dwight-20200331.html

Hill praised fast action by President Trump, an old golfing buddy whom he says he talks to monthly.

Republic First Bancorp, Republic’s holding company, closed at $2.19 Tuesday, a seven-year low. Analysts at Keefe Bruyette & Woods in New York rank it among the least-profitable banks whose stocks they cover. - I see a pattern emerging.

Bigsmoke, their deposit box revenues are only £13.3m. Their annual lease costs are £35m.

The other side of the loan book is the customer base and their deposits. This thing is built around creating low cost deposits, and before the horrors of 2019 it did have one of the lowest cost of deposits. Their intention was never on profits but growth.

Jinny I disagree re losing customers, they are gaining them at a rate of 100k per quarter. So about 20% growth pa.

Jinny, their leases have an average tenure of 20 years. Plus they have spent a tonne of money in leasehold improvements about £3m per location.