Metro Bank: Edison
Financials: Banks – LSE – M cap £629m – Price 93.40p – Update
Delivery on all targets
Metro Bank’s FY24 results provided strong evidence of the effectiveness of its strategy. With momentum building through the year, it has a firm base for further progress in the current year and beyond. Profitability was achieved in H224, much earlier than the bank had guided, and management confidently reaffirmed all previous guidance. This includes a mid- to upper-teens percentage return on tangible equity from 2027 as the transition to higher-return corporate, commercial and SME lending and specialist mortgage lending continues.
Disclaimer & Declaration of Interest
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.