|Bid||751.60 x 200000|
|Ask||751.80 x 372700|
|Day's range||750.90 - 756.60|
|52-week range||482.05 - 758.40|
|PE ratio (TTM)||278.41|
|Earnings date||31 Jul 2017|
|Dividend & yield||0.51 (5.29%)|
|1y target est||8.77|
British lender Metro Bank Plc (Frankfurt: 6MB.F - news) raised 278 million pounds ($362 million) by selling new shares to investors and also generated a pretax profit in the first half of the year. Metro Bank, the first new high street bank in Britain in over 100 years when it launched in 2010, said the proceeds of the share placing would be used for growth and to replace funds used for its acquisition of a mortgage portfolio last month for 597 million pounds. The lender, which offers retail, business and private banking, said underlying profit before tax was 6 million pounds in the six months ended June, compared with a loss of 13 million pounds a year earlier, driven by growth in lending and customer deposits.
Banks in Britain will have to publish data every quarter from next year to show the quality of service they provide to customers to try to boost competition, the Financial Conduct Authority (FCA) proposed on Tuesday. Performance based on set criteria should be measured every three months from April 2018, and published on a bank's website within six weeks of the end of the quarter, the FCA said. The government wants to increase competition in banking, a sector long dominated by the "Big Four" lenders, HSBC, Lloyds, Barclays (LSE: BARC.L - news) and Royal Bank of Scotland (LSE: RBS.L - news) , but is now seeing many new entrants or "challengers".
The Bank of England said on Monday it could force banks to hold more capital as an "insurance policy" to protect the wider economy in case the rapid growth in consumer credit turns sour. Alex Brazier, the BoE's executive director for financial stability, said that while lending overall has grown in line with the British economy, outstanding car loans, credit card balances and personal loans have risen by 10 percent, far outpacing rises in income.