|Bid||0.0000 x N/A|
|Ask||0.0000 x N/A|
|Day's Range||0.8738 - 0.9286|
|52 Week Range||0.7665 - 3.3280|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Britain's Metro Bank swung to a 240 million pound ($314 million) first half loss on Wednesday after it took provisions to cover coronavirus crisis-related loan impairments. Metro Bank's shares fell as much as 13.5%, compounding a more than 90% collapse in its stock price since it became mired in an accounting scandal in January last year. The bank, which was founded to take on the established British lenders, said it had taken a 109 million pound hit from the pandemic, mainly as a result of higher expected loan losses as well as lower transaction fees.
The latest such move comes from publicly listed Metro Bank, which today has announced its intention to purchase peer-to-peer lender RateSetter for up to £12 million. Pending approval by U.K. regulators, Metro Bank is acquiring RateSetter for an initial price of £2.5 million, with "additional consideration" of up to £0.5 million payable 12 months after completion. Notably, the acquisition does not include RateSetter's holding in RateSetter Australia, which is being retained by RateSetter shareholders.
Metro Bank has agreed to buy peer-to-peer lender RateSetter for an initial payment of 2.5 million pounds ($3.27 million), it said on Monday. An additional 500,000 pounds will be paid 12 months after completion subject to the satisfaction of certain criteria and up to 9 million pounds on the third anniversary of completion, subject to performance criteria, Metro said in a statement.