UK's embattled Metro Bank expected to struggle to raise capital with 'no easy solutions'
Publishing timestamp: 2023-10-06 08:28:59
Summary
The article discusses how Metro Bank is likely to struggle in raising fresh capital to strengthen its balance sheet. The bank's shares were briefly suspended from trading twice after it confirmed its plans to raise new capital. Reports suggest that rival banks such as HSBC, Lloyds Banking Group, and NatWest Group are being approached to buy a portion of Metro Bank's mortgages. The bank's stock has been downgraded by ratings agencies and investment banks, and there are concerns about its capital needs and potential nationalization. The article also mentions the bank's previous miscalculations of risk-weighted assets and the involvement of short sellers.
Sentiment: NEGATIVE
Tickers: HSBA-GB, LLOY-GB, NWG-GB, HSBC,
Keywords: business, securities fraud, banks, hsbc holdings plc, natwest group plc, lloyds banking group plc, business news,