Metro Bank PLC (MBNKF)
- Simply Wall St.
Metro Bank Full Year 2022 Earnings: Beats Expectations
Metro Bank ( LON:MTRO ) Full Year 2022 Results Key Financial Results Revenue: UK£483.6m (up 23% from FY 2021). Net...
- Reuters
UPDATE 1-Metro Bank flags limited growth in 2023 net interest margin
Metro Bank posted a narrower annual loss on Thursday, but said its net interest margin growth will be limited in 2023 as the British mid-sized lender expects fewer base rate moves and inflationary pressures to outweigh its cost initiatives. Banks that saw an increase in their profit amid a rise in interest rates are now struggling with rampant inflationary pressures and a cost-of-living crisis. Metro Bank, which has had a tumultuous few years after an accounting blunder back in 2019 led to fines and probes by the UK regulators, saw its net interest margin - a key measure of profitability - improve by 52 basis points to 1.92% for the year ended Dec. 31.
- Reuters
Metro Bank increases bad loans provisions as cost-of-living crisis bites
Bank profits have been lifted by successive rate hikes by the Bank of England, enabling them to make more money on lending to consumers and businesses, despite the threat to the economy posed by elevated levels of inflation. London-based Metro Bank said on Thursday the majority of the loan loss-related provision was due to a 33 million pounds ($39.54 million) increase in impairments on loans to consumers, although the lender added it was yet to see any signs of significant distress among customers. Metro Bank's annual losses fell by about two-thirds in 2022 to 50.6 million pounds.
