BUZZ-UK's Metro Bank tumbles after reiterating forecast for next three years
ReutersFeb 27, 2025 9:37 AM
Britain's Metro Bank MTRO.L shares tumbles as much as 14% to 84 pence; set for worst day since October 2023
Reiterates its forecast for 2025, 2026 and 2027 despite turning a profit in the second half of the year
Posts 12.8 million pounds ($16.2 million) underlying profit before tax in the six months ended on December 31 vs loss of 26.8 million pounds
Analysts at Peel Hunt say H2 performance was significantly above its estimates and market expectations are likely to rise
MTRO reports FY net interest margin at year end of 2.65%, ahead of guidance of 2.50%
MTRO also did not to disclose the buyer for its portfolio of about 584 million pounds of unsecured personal loans
In 2024, stock was up ~155% YTD
($1 = 0.7894 pounds)
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