Metro Bank shares plummet as lender misses profit expectations January 23, 2019 Shares in Metro Bank dropped to their lowest point ever this morning as the lender warned that profits had “softened” in the final quarter of last year. Underlying profits reached £50m in 2018, the banks said, up 138 per cent from the year before. Read more: Metro Bank profits treble as UK's newest high street bank [...]
Hacking Wall Street: Are tech unicorns about to disrupt stock market flotations? January 21, 2019 Tech companies have changed the way we chat, bank, travel and date. Are they about to disrupt capital markets too? “In [Silicon] Valley there’s always been that mentality: how do we hack Wall Street?” says Rob Kniaz, a founder of tech-focused venture capital firm Hoxton Ventures. Two weeks ago reports broke that Slack, the workplace [...]
Atom Bank poised to appoint Citi for potential sale to Spanish bank January 14, 2019 Digital lender Atom Bank is in talks with advisers over a potential instruction that could lead to its takeover by Spanish banking behemoth BBVA. According to Sky News, the Durham-based bank is in discussions with Citi about a role advising the board of the business on its future options. Last year Atom Bank raised nearly [...]
We must turn the page on the public perceptions of finance November 1, 2018 A company needs to stand for something more than making money. Sustainability matters more than profit. The mission should be a lasting contribution to society that finds a balance between all stakeholders. Those aren’t the words of a pious left-wing hand-wringer but of John McFarlane, chairman of Barclays, in an anthology of writing published this week [...]
Craft beer brand Brewdog is trying to mature after a tough year of marketing disasters October 22, 2018 It’s been a tough year for Brewdog, much of it the brand’s own fault. Tone-deaf advertising campaigns and PR mishaps have frustrated its fans and “equity punk” investors (I speak from personal experience – I’ve been a shareholder since 2015). The Scottish craft beer brewer, founded in 2007, is as well known for its marketing stunts as [...]
City Moves for 20 September 2018 – who’s switching jobs at Metro Bank, Investx and FedEx Express? September 20, 2018 Today's City Moves cover banking, finance and package delivery. Take a look at these movers and shakers: Metro Bank Metro Bank has appointed Catherine Brown as an independent non-executive director. Catherine holds various non-executive roles including: non-executive board member at the Cabinet Office, non-executive director of FNZ (UK) Limited and chairman and non-executive director of [...]
Tesco Bank, Metro Bank and Aldermore put more pressure on Treasury over George Osborne’s new bank tax September 6, 2015 The government is expected to face fresh criticism this week as politicians and City bosses step up their attacks on a new bank tax. Labour and the SNP have tabled amendments that would exempt challenger banks and building societies from having to pay an additional eight per cent of UK profits in corporation tax, the [...]
Further growth expected from Metro Bank amid talk of IPO July 19, 2015 Metro Bank is expected to reveal its results by the end of this month, as it gears up towards a flotation expected to take place next year. Although whether Metro will finally unveil a profit is unclear, the results are forecast to show that the challenger bank is continuing to grow nicely. If so, it [...]
Financial challengers Zopa and Metro Bank join forces to bring peer-to-peer lending and high street banking together May 19, 2015 Peer-to-peer lender Zopa has teamed up with challenger bank Metro Bank to lend funds through the latter's marketplace. The deal marks the first of its kind in the UK as Metro Bank, already lending funds to Zopa's consumer borrowers, recognises peer-to-peer (P2P) lending as a new asset class. Zopa's chief executive Giles Andrews described it [...]
Metro Bank is the latest challenger bank to eye London float April 19, 2015 The battle between the "big four" high street lenders and the challengers banks just ratcheted up a notch. New kid on the block Metro Bank is eyeing a £1bn initial public offering on the London stockmarket next year, according to the Telegraph. This comes just five years after it emerged to shake-up Britain's banking landscape. [...]