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...Metro Bank has suspended its bid to secure regulatory sign-off on risk models that it previously said would turbocharge profitability....
...NatWest, Santander and Lloyds Banking Group were weighing bids for parts of Metro Bank on Sunday night, as several big lenders ruled out a full takeover of the UK challenger bank without state support....
...In the four years since he had been installed as chair of Metro Bank — the high street lender once feted as the darling of Britain’s challenger banks — his diary had been filled with regular catch-ups with...
...The Colombian billionaire behind Metro Bank’s weekend financing deal has said he sees opportunities to use the UK challenger bank as a base for acquisitions — once costs are brought under control — following...
...Metro Bank has promised to cut another £30mn off costs, adding to a £50mn plan already in place, as it pushes ahead with its restructuring programme....
...“A customer-centric physical presence complemented by digital capabilities remains a unique offering and sets Metro Bank apart,” he said....
...Robert Sharpe, chair of Metro Bank, said Gilinski’s appointment to the board “underscores the commitment he has long shown to the bank as a supportive, long-term shareholder”....
...The UK’s Metro Bank is to cut a fifth of its staff as it extends a cost-cutting plan that is now designed to save £50mn a year....
...To fulfil the placing, Metro Bank issued 500mn new shares at a discounted price of 30p apiece....
...Metro Bank has distinguished itself by betting on physical branches and in-store customer service at a time when most banks have retrenched from the high street....
...Metro Bank also announced a shake-up of its board, with members Anne Grim, Ian Henderson and Monique Melis all deciding to step down at the end of the year....
...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....
...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....
...Why has no bank bought Metro? It trades at a tenth of its book value....
...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...
...Further reading— The Metro Bank Coin Caper (FTAV)— A brief look at Metro Bank’s offer document (FTAV)— The misregulation of Vernon Hill (FT)— How Metro’s challenging week unfolded (FT)— Lex readers weigh...
...Nearly three-fifths of UK bank branches have vanished in the past nine years. Metro Bank’s chief executive Dan Frumkin is sticking to his guns....
...Metro Bank has won the support of 75 per cent of its bondholders to carry out a £600mn debt refinancing deal that it hastily agreed over the weekend in order to fill a capital hole....
...So it was for the global package of bank capital reforms introduced in 2004. One ripple has been seen in the recent tribulations of midsized UK lender Metro Bank....
...Bacal’s investment vehicle Spaldy is to become the bank’s majority shareholder. Read more about Metro Bank here....
...However, many of those bidding for Metro’s mortgages are UK retail banks, which are likely to follow the market....
...Metro’s 2010 launch marked the first new UK bank on the high street in more than 100 years, making it the poster child for the growth of challenger banks....
...Metro Bank, like other small European banks, has struggled to raise this costly debt in the past....
...His daughter, Dorita, sits on Metro Bank’s board....
...Read more on Metro Bank here...
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