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The Latest Breaking News from Metro Bank

NatWest takes £24m hit from abandoned ‘Tell Sid’-style campaign

Bank left with costs from Sir Trevor McDonald-fronted campaign after early election halted rollout

The Guardian - UK

Chief of staff to ex-Post Office chief Paula Vennells drafted email ‘to discourage investigating prosecutions’ - as it happened

Public inquiry hears Martin Edwards warned of ‘setting the hares running’ among board members as prospect of appeals against unsafe prosecutions of branch owner-operators loomed

The Guardian - UK

‘It’s very troubling’: thieves use vulnerable man to take out £28,000 bank loan

Metro Bank faces questions over safeguards and why victim was allowed to borrow such a big sum

The Guardian - UK

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Metro Bank ignored my report of attempted scam

Although fraudsters gave one of its account numbers, it was totally uninterested as I was not its customer

The Guardian - UK

Bank of England investigating claim Metro Bank put customers’ data at risk

Exclusive: Whistleblower raised concerns about security of in-branch coin-counter software

The Guardian - UK

Metro Bank increases job cuts to 1,000 and ends seven-day branch model

Lender nearly triples size of cost-cutting plan to £80m after autumn rescue deal

The Guardian - UK

‘I was in despair’: how lending a phone led to life savings being stolen

Thief went on £9,000 spree with the victim’s money before using her Uber account to travel to Stansted

The Guardian - UK

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‘I’m still proud of what we created’: Metro Bank’s 14-year rollercoaster ride

From its lavish launch parties to a 2019 accounting scandal, the UK challenger bank has been beset by controversy

The Guardian - UK

Nationwide 'out in the cold', brokers say, as it stays out of mortgage rate price war for now

Metro Bank and TSB were among the latest lenders to cut rates

Evening Standard

Treasury to end oversight of £425m scheme to help banks after RBS bailout

Body monitoring use of money given to challenger banks to promote competition to be wound down despite objectives not met

The Guardian - UK

Metro Bank to cut about 800 jobs and review opening hours

Lender to ramp up cost-cutting plans after rescue deal and assess seven-days-a-week branch model

The Guardian - UK

Metro Bank axing fifth of workers and reviewing seven-day opening

The troubled high street lender said the moves are part of plans to ramp up cost savings to £50m a year.

The Independent UK

Metro Bank rescue deal can go ahead after shareholders back it

Jaime Gilinski Bacal to increase stake to 53% as lender secures £325m in new capital and £600m of debt

The Guardian - UK

Metro Bank says outflows return to normal after £325 million rescue deal

SAVERS were pulling money out of Metro Bank in fear of the bank’s safety ahead of a £325 million fund raiser in October.

Evening Standard

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The Independent UK

Banks’ performance in dealing with APP scam victims revealed by regulator

The Payment Systems Regulator said there are inconsistent outcomes for customers who report an APP scam to their bank or building society.

The Guardian - UK

Mortgage debts and bust firms put UK banks’ profits under pressure

With the big lenders reporting their results this week, investors are trying to stay optimistic and hoping there will be no more crises

The Conversation

Bank CEOs set the tone from the top when it comes to risky behaviour — new research

Metro Bank positioned itself as “a fresh start to banking” when it launched in the wake of the 2008 global financial crisis. It was set up in 2010 as a challenger to the “big five” banks dominating the UK market post-crisis: HSBC, NatWest, Lloyds, Barclays and Santander.

The Guardian - UK

Who is the Colombian billionaire taking a high stakes punt on Metro Bank?

Jaime Gilinski Bacal is known for snapping up struggling lenders on the cheap and turning around their fortunes

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The Guardian - UK

Metro Bank gets another shot at redemption – but too late for the small shareholders

Chief executive’s boast that there is nothing wrong with its business model will sound hollow to those nursing a 97% loss

Evening Standard

What is happening at Metro Bank? What customers need to know

Millions of users awaiting news of bank’s survival

The Guardian - UK

Metro Bank to slash costs after £925m rescue deal

Lender confirms customers have started to pull money out amid worries over its financial health

The Guardian - UK

Metro Bank agrees rescue deal with investors

Lender secures £325m capital from new and existing shareholders and £600m of debt refinancing

The Guardian - UK

Metro Bank shares rebound amid reports of £600m capital offer

Lender’s stock hit all-time low after news it was exploring selling off up to 40% of mortgage book

The Independent UK

Shares in troubled British lender Metro Bank bounce back by a third as asset sale speculation swirls

Shares in the troubled British lender Metro Bank have bounced back by a third on reports that it has been sounding out bigger rivals to buy a chunk of its assets

Fortune

Bank founded by American billionaire sees shares plummet amid reports lender is scrambling to boost its balance sheet

Shares of Metro Bank fell nearly 30% as investors continued to dump the stock amid concerns over the quality of its residential mortgage loans.

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