Metro Bank - Landslide?

[D3ckard]

I was wondering if anyone has a more informed/learned view on the state of play regarding Metro Bank.

This is the second time I've seen their shares drop like a stone which can't be a good sign. For the sake of disclosure, I have no skin in the game regarding stock but was looking to move to them commercially and I have doubts about their integrity because of the "what if" factor.

I am aware they are looking to raise a good chunk of funding and that there is some doubt emerging over their ability to do so. Of course, we'd like to believe that UK PLC will never let a bank fail but Northern Rock proved otherwise so it's not out of the question.

Or am I wrong?

Best,
Simon

[vagabond]

I also saw that in the News today and it did raise some concerns - I'm self-employed and have my business bank account with them.

[mutanthands]

I also saw that in the News today and it did raise some concerns - I'm self-employed and have my business bank account with them.

If you have more than the protected £85k with them, I would shift it elsewhere as a precautionary measure.

[David_D]

If you have more than the protected £85k with them, I would shift it elsewhere as a precautionary measure.

That sounds sensible however small the risk may or may not be.

[wileeeeeey]

If Metrobank does fail where are we going to start storing all of our watches.

I know my £200 is safe but is my LVc

[sprite1275]

Think I still have 40quid in there from when I got their card to use abroad. Better get it out asap.

[Chris_in_the_UK]

I would start looking elsewhere - when a bank asks for bids on it's current mortgage portfolio they are in the do-do.

[vagabond]

They've been "rescued" but for how long? Is it time to move away?

I suppose that starts a run on it anyway....?

[mutanthands]

Unless they change their business model, they've only bought a bit more time before their inevitable demise.

[Linc]

If Metrobank does fail where are we going to start storing all of our watches.

I know my £200 is safe but is my LVc

Ditto. I may be overreacting. But I’m considering taking my watches out. I have this fear I’m gonna rock up to the bank one day and find the doors boarded up


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[kace]

Unless they change their business model, they've only bought a bit more time before their inevitable demise.

I see they plan to open more branches, there is never anyone in the massive one near me. Seems like folly as every other bank is closing theirs due to the reduced demand from customers.

They can't say they weren't warned.

[Raffe]

Ditto. I may be overreacting. But I’m considering taking my watches out. I have this fear I’m gonna rock up to the bank one day and find the doors boarded up


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Anything that is in your locker box or in your security portfolio will not be subject to bankruptcy proceedings, if these ever happen. Only account balances and time deposits are.