Metro Bank swings to first annual profit since 2018 while slashing 1,000 jobs March 13, 2024 Metro Bank has swung to its first annual profit since 2018 after the branch-focused lender was rescued from potential collapse by a major refinancing package and embarked on a restructuring set to involve 1,000 job cuts.
Metro Bank’s costs in focus as lender embarks on major restructuring March 9, 2024 Investors will be looking for more clues on Metro Bank's revamped strategy next week as the lender prepares to draw a line under a year that saw it rescued from potential collapse.
Metro Bank brings in Barclays executive as new CFO amid major restructuring February 29, 2024 Metro Bank has appointed Barclays executive Marc Page as its new chief financial officer as the lender undergoes a major restructuring designed to shore up its balance sheet.
Colombian billionaire who rescued Metro Bank appoints himself to board January 24, 2024 Jaime Gilinski Bacal, the Colombian billionaire who led a major refinancing package for struggling Metro Bank, has appointed himself to its board as a non-executive director. As part of the deal struck between the lender and the banking tycoon last year, Bacal and his firm, Spaldy Investments, are entitled to appoint up to three directors [...]
Top business disasters of 2023: Morning Wire reflects on the biggest corporate mishaps of the year December 30, 2023 Here at Morning Wire, we’re taking some time to reflect on some of the biggest c*ck-ups in business in the last 12 months.
Which banks were the winners and losers of 2023? December 29, 2023 After a year of big headlines, which UK banks pressed ahead and which fell behind in 2023?
Metro Bank has learned ‘the hard way’ about costly branches, analysts say November 30, 2023 Metro Bank today announced a shift in strategy as it prepares to lay off 20 per cent of staff, considers cutting opening times and tries to simplify its business model to become more cost-efficient.
Metro Bank to cut 20 per cent of staff, review opening hours after £925m rescue November 30, 2023 Metro Bank said today its turnaround plan would require a great deal more cost surgery than previously anticipated.
Metro Bank shareholders back rescue plan as lender reiterates branch commitment November 27, 2023 The deal was approved by over 90 per cent of shareholders, even though it will dilute their shareholding substantially.
Barclays reportedly in talks with Metro Bank to buy £3bn mortgage portfolio November 27, 2023 Barclays is reportedly in exclusive talks to buy a £3bn residential mortgage book from Metro Bank as the troubled lender's shareholders prepare to vote on a £925m refinancing package later today.