UK's Metro Bank tumbles after reiterating forecast for next three years

Metro Bank Holdings

27/02/2025 09:37

** Britain's Metro Bank MTRO.L shares tumbles as much as 14% to 84 pence; set for worst day since October 2023

** Reiterates its forecast for 2025, 2026 and 2027 despite turning a profit in the second half of the year

** Posts 12.8 million pounds ($16.2 million) underlying profit before tax in the six months ended on December 31 vs loss of 26.8 million pounds

** Analysts at Peel Hunt say H2 performance was significantly above its estimates and market expectations are likely to rise

** MTRO reports FY net interest margin at year end of 2.65%, ahead of guidance of 2.50%

** MTRO also did not to disclose the buyer for its portfolio of about 584 million pounds of unsecured personal loans

** In 2024, stock was up ~155% YTD

($1 = 0.7894 pounds)

 (Reporting by Radhika Anilkumar in Bengaluru)

 ((Radhika.Anilkumar@thomsonreuters.com;))