Metro Bank Holdings Stock News
Citi has initiated Metro Bank Holdings PLC (LSE:MTRO), the UK challenger bank, at 'neutral' with a £1.83 target price as it transitions from restructuring to growth. Citi said Metro's low-cost funding base was a key structural advantage that could support rapid expansion if the bank meets its lending targets.
Metro Bank Holdings PLC (LSE:MTRO) shares fell 9.3% to 162.93p on Tuesday, despite the challenger bank reporting its most profitable half-year and reaffirming guidance for the full year and beyond. Underlying pre-tax profit rose 34% to £61 million in the six months to June, the highest half-year figure in the bank's history.
Britain's Metro Bank reported a 34% jump in first-half profit on Tuesday, underpinned by strong loan growth across its core business segments.
Britain's Metro Bank is exploring a £2 billion ($2.7 billion) merger with rival lender Aldermore, which was put up for sale by South Africa's FirstRand following the motor finance mis-selling scandal, Sky News reported on Tuesday.
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