Louis Goss is a MarketWatch reporter based in London.
Metro Bank has struck a deal to secure £925 million worth of new financing following a weekend of urgent talks amid concerns about the financier’s balance sheet.
Shares in the bank MTRO, +10.50% jumped more than 17% on news of the new investment after having lost 47% of their value over the past month. Metro Bank’s share price has, however, suffered in recent years following dramatic revelations in 2019 it had misclassified £900 million worth of loans due to an accounting error
Concerns about Metro Bank’s future were further heightened again last week following reports from Sky News the U.K. challenger bank was seeking to raise hundreds of millions to bolster its finances.
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