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...The application is still progressing and no decision has yet been made by the board,” a Metro spokesperson said. Metro would not clarify what “progressing” involved....
...Meanwhile, a separate attempt by existing Metro bondholders to bolster the bank’s balance sheet through a £600mn capital injection was still being discussed by the company’s board late on Sunday....
...Metro was not alone in bemoaning the regulator’s foot-dragging — other smaller banks have also complained — but the issue assumed outsized importance given the company’s relatively tight capital base and...
...Metro has 2.8mn customers in the UK and £21.7bn of assets....
...Spaldy is entitled to make one more appointment to Metro’s board under the terms of the rescue deal....
...The company has reported good levels of initial demand, which will mean more need for Bytes’ IT services. The market has noticed Bytes’ growth potential....
...Metro said on Monday it was looking to expand its branch network in the north of England over the next two years....
...Most of Metro’s branches are in and around London, but the lender is looking to expand in other cities including Exeter, Norwich and Nottingham....
...Read more on Occidental Petroleum here...
...In today’s newsletter: Metro Bank’s billionaire white knight ExxonMobil plots a mega-deal The Safras at war The Colombian billionaire taking a punt on Metro Bank The last DD left you, Metro Bank was...
...In today’s newsletter: Metro Bank’s messy week Abcam’s takeover drama The regulatory saga that left Metro Bank in a pinch Metro Bank hasn’t exactly been on a tear in recent years....
...Metro is now seeking to shore up its balance sheet. But investors recapitalising the company risk throwing good money after bad....
...Shares in Metro Bank dropped 27 per cent on Thursday morning, after the Financial Times reported that the company was in talks about an urgent £600mn capital raise....
...So what might a new Metro look like?...
...A £3bn sale would reduce its risk-weighted assets by about £1bn, Metro said....
...The requirement for banks to issue loss-absorbing debt provided a cushion for Metro Bank....
...But Metro’s relatively tight capital base made it a particular focus of concern. Metro’s woes are more than regulatory, however....
...Rating agency Fitch put Metro on negative watch earlier on Wednesday, citing increased risks to its business model, capital position and funding of the company, which had a market capitalisation of about...
...I’ve got savings with Metro. Should I move them elsewhere?...
...Metro publicly said on Monday that it might pause the application....
...His daughter, Dorita, sits on Metro Bank’s board....
...Occidental Petroleum has agreed to acquire CrownRock, one of the most sought-after US private shale oil producers, in a deal valued at about $12bn, including debt....
...Global energy markets have changed and grown dramatically since the creation of the Strategic Petroleum Reserve (SPR) nearly 50 years ago....
...Neither company responded to requests for comment....
...The group, represented by investment banking boutique PJT Partners, contacted the lender’s board on Monday with the offer of a £600mn injection, but the company had not accepted as of Friday, the Financial...
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