Metropolitan Bank slides as credit costs drive Q2 profit miss

Metropolitan Bank Holding

22/07/2026 19:05

** Community lender Metropolitan Bank's MCB.N shares slide as much as 12.2%, last down 8.6% at $90.53
** MCB late Tuesday posted Q2 profit below estimates as an elevated provision for credit losses weighed
** Credit costs were driven primarily by a single commercial and industrial loan in a non-core portfolio segment

    ** "We feel future credit expenses are ring-fenced given resolution of larger legacy credit issues and there is even a possibility of potential recoveries. Given strong fundamental trends and resolution of these credit issues, we recommend new investors take advantage of the pullback," Hovde Group analyst Feddie Strickland said
** Bank misses estimates after beating the past two quarters, per LSEG data
** As of last close, MCB up 29.7% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))