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05-10-2023, 11:54 AM | #1 | |||
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SkyNewsHD
Business editor said the Bank is Safe but must repay the Massive Bond Debt. [Metro Bank's shares plunged after reports it is seeking to raise millions to bolster its finances. The bank's shares sank by as much as a third after newspapers reported it needed to raise up to £600m. Metro Bank refused to comment on the figure and urgency of the talks but said it "continues to consider how best to enhance its capital resources". The bank started in the wake of the financial crisis and was the first to open in the UK in more than 100 years. It positioned itself as a so-called "challenger" bank to the big High Street names when it was founded in 2010, with its promise of being open seven days a week, and it now has about 2.7 million customers. Its shares were briefly suspended on Thursday morning. But they had already suffered hefty falls last month after regulators refused to approve a request to lower the capital, or cash, requirements attached to its mortgage business. The bank is now considering a number of options to boost its balance sheet before some £350m worth of debt will need to be refinanced in October 2025.] https://www.bbc.co.uk/news/business-67016375 |
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07-10-2023, 05:05 AM | #2 | |||
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