Home Business NewsBusinessBanking Metro Bank shares nosedive as troubles persist

Metro Bank shares nosedive as troubles persist

by LLB Editor
25th Jul 19 11:09 am

Metro Bank’s shares have plunged by 16% today after results showed that half year pre-tax profits fell to £3.4m from £20.8m a year earlier.

Customers withdrew £2bn of deposits over the six months to June, Metro Bank said.

The troubled bank floated at £20 a share in 2016 and rallied to levels around £40 but is now trading below 400p.

Back in May the company raised £375m from a share placing to bolster its finances at 500p.

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