|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||3.3500 - 3.3500|
|52 Week Range||3.2500 - 40.6900|
|Beta (3Y Monthly)||0.27|
|PE Ratio (TTM)||20.06|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Shares in troubled British lender Metro Bank plunged by almost a fifth in early trading on Thursday after it said customers had pulled 2 billion pounds ($2.5 billion) out of the bank this year following a major accounting error in January. The bank, which muscled onto Britain's high streets in 2010, also posted an 84% fall in half-year profit on Wednesday and said its founder Vernon Hill would stand down as chairman. Metro Bank has struggled to rebuild investor confidence after disclosing in January it had under-reported the risk of its loan book by nearly 1 billion pounds, sending its shares into a tailspin that wiped more than 1.5 billion pounds off its market value.
Metro Bank escaped a potential investor challenge at its annual meeting on Tuesday, but there were sizeable votes against several of its most senior directors. The bank, which was set up nine years ago to take on Britain's established lenders, disclosed in January it had under-reported the risk on its loan book, which hit its capital and shares and put its management under pressure. Ahead of the annual meeting, Legal & General Investment Management and Royal London Asset Management had both said they would vote against key directors.
The nine-year-old challenger bank saw its market value fall by more than 1.5 billion pounds after disclosing in January it had under-reported the risk of its loan book by nearly 1 billion pounds, hitting its capital levels. Metro Bank's management remains under pressure and Chairman Vernon Hill and some of his board are facing growing calls to resign ahead of the bank's annual shareholder meeting on Tuesday.