The lender releases a statement to the market on funding and current trading as shares are hit by concerns over its balance sheet.
Metro Bank has moved to reassure investors following a steep fall in its share price as it continues to evaluate options for a major funding effort. The high street bank is understood to be looking to raise hundreds of millions of pounds ahead of future deadlines to refinance debts. The timeframes involved are not imminent.
'No decision has been made on whether to proceed with any of these options.' Metro Bank also updated on its recent financial performance in the statement to the market. 'For three consecutive quarters ended 30 June 2023, the bank has been profitable on an underlying basis, and it expects the Q3 trading update to show continued momentum in personal and business current account growth and customer acquisition, in line with expectations.
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