Home Business NewsBusinessBanking Metro Bank shares fall by 20 per cent

Metro Bank shares fall by 20 per cent

by LLB Reporter
27th Feb 19 12:16 pm

Metro Bank shares fell 20% on Wednesday morning trading, as the bank unveiled plans to raise £350m from investors.

The bank revealed last month they found an accounting error, they had also underestimated their risk levels on a few commercial loans.

Underlying pre-tax profits of £50m for 2018 were reported up 140% compared to 2017 however, below analysts forecast of £59m.

Craig Donaldson, chief executive of Metro Bank told Reuters despite the problems, there’s “absolutely no question marks” over the bank’s future.

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