Metro Bank shares surge as profit return predicted
Manchester Evening News|August 01, 2024
SHARES in Metro Bank have surged after the bank announced its expectation to return to profitability in the final quarter of this year.
- CHRIS DORRELL
Metro Bank shares surge as profit return predicted

In the first half of 2024, the bank reported a pretax loss of £33.5m, a stark contrast to the profit of £15.4m recorded in the same period the previous year. This downturn was largely attributed to a decrease in net interest margin, a key indicator of lending profitability, which fell to 1.64 per cent in the first half from 1.85pc in the second half of last year.

Despite these disappointing results, the bank confirmed its projection to return to profitability in the final three months of this year.

Beyond 2024, it anticipates delivering a return on tangible equity, a crucial measure of profitability, in the mid-to-upper single digits in 2025, rising to double digits in 2026 and midteens thereafter.

この蚘事は Manchester Evening News の August 01, 2024 版に掲茉されおいたす。

7 日間の Magzter GOLD 無料トラむアルを開始しお、䜕千もの厳遞されたプレミアム ストヌリヌ、9,000 以䞊の雑誌や新聞にアクセスしおください。

この蚘事は Manchester Evening News の August 01, 2024 版に掲茉されおいたす。

7 日間の Magzter GOLD 無料トラむアルを開始しお、䜕千もの厳遞されたプレミアム ストヌリヌ、9,000 以䞊の雑誌や新聞にアクセスしおください。

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