Metro’s trading update terrifies investors

Jasper Cox

January 23, 2019 01:45 PM

Metro_PA_230x150 — RETRANSMITTED WITH ADDITIONAL CAPTION INFORMATION. ADDING DOG'S NAME Founder and Vice Chairman Vernon Hill II with his dog Duffy, outside the newly opened Metro Bank branch in Holborn, central London. The first high street bank to launch in the UK for more than 100 years opened its doors to customers today but its products received a lukewarm response from industry commentators. | John Stillwell/PA Archive/PA Images

Metro Bank’s update to the market on Wednesday has led to speculation it will need to raise capital once more. It revealed slowing loan and deposit growth, weaker than expected profits, and a greater than expected rise in risk-weighted assets chewing up its capital ratio. The update came at a time when UK banks are pessimistic about raising capital.

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Jasper Cox