Tag: rescue

  • Metro Bank to cut 20 per cent of staff after £925m rescue

    Metro Bank said today its turnaround plan would require a great deal more cost surgery than previously anticipated. The troubled lender, which has seen its share price fall more than 98 per cent over the last five years, said it considering measures such as automation, cutting opening times and actions to “simplify” its business model…

  • Metro Bank shareholders overwhelmingly back rescue plan

    Metro Bank shareholders have voted overwhelmingly in favour of a major refinancing package which the bank hopes will secure its future. The deal was approved by over 90 per cent of shareholders, even though it will dilute their shareholding substantially. The vote comes after the embattled challenger announced a major refinancing package in October. The…