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Metro Bank share price: what to expect from its half-year results

When is Metro Bank’s results date?

Metro Bank will unveil its half-year results and Q2 earnings on July 24.

Metro Bank’s results preview: what does the City expect?

The FTSE 250 lender’s share price has not performed well this year, with it falling more than 70% since January from £17.18 a share to 464p as of 11:30 GMT on Friday.

Metro Bank disappointed investors with its Q1 results in May, with lender’s CEO Craig Donaldson admitting that quarter had been challenging.

‘Adverse sentiment following January’s update impacted deposit growth in the quarter, with a small number of large commercial and partnership customers making withdrawals,’ he said.

‘2019 is a year of transition as we implement our evolved strategy, with the aim of optimising the balance of growth, profitability and capital efficiency,’ he added.

Investment funds have added additional downward pressure on Metro Bank’s share price, with five firms collectively holding a 5.82% short position against the lender – the largest being Odey Asset Management with a 2.5% holding.

2019 remains a transitional year for Metro Bank as it continues to implement its strategy it outlined in its annual results back in February.

The bank raised £375 million to fund its growth plans, with investors eager to see if the investment has reaped any positive results in its upcoming half-year trading update.

Practise trading Metro Bank and other UK stocks with an IG demo account.

Metro Bank chairman under pressure to resign

Earlier this month, Metro Bank saw its share price tumble on reports that senior executives were pressuring chairman Vernon Hill to resign.

According to a report by the Financial Times, board members have reportedly threatened to jump ship if Hill does not step down.

The pressure for Hill to resign comes as the bank faces an investigation from both the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) following a major accounting error that precipitated its stock tumbling in value.

Regulators have called for a restructuring of the bank’s senior management after raising concerns about the quality of its corporate governance.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

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