Proactive Investors - Metro Bank PLC (LON:MTRO), the challenger lender established in 2010, has responded to media speculation pertaining to a £600 million emergency fundraise first reported by Sky News.
“The company is evaluating the merits of a range of options, including a combination of equity issuance, debt issuance and /or refinancing and asset sales,” said Metro Bank in a regulatory statement.
“No decision has been made on whether to proceed with any of these options,” said the bank.
“For three consecutive quarters ended 30 June 2023, the bank has been profitable on an underlying basis, and it expects the third-quarter trading update to show continued momentum in Personal and Business Current Account growth and customer acquisition, in line with expectations. Metro Bank continues to be well-positioned for future growth.”
Metro Bank’s shares continue to flatline regardless, posting 25% losses this morning, bringing year-to-date losses to more than 70%.
Read More: Metro Bank shares tank even further on news of emergency fundraise