Metro Bank, the embattled UK challenger bank, is expected to launch its planned £350m equity capital raise in the coming days after the bank was forced to quash rumours of financial instability on social media over the weekend. It may also sell or securitize some loans.
Shares in Metro Bank fell as much as 7% on Monday morning after social media speculation over the weekend about the bank’s financial strength. It said in a statement that its plan to raise capital was “well advanced”.
Photos showed large queues to withdraw money from several branches