Metro Bank shares dive after poor results, chairman to stand down

FILE PHOTO: Signage is seen outside of a Metro Bank in London, Britain, May 22, 2019. REUTERS/Hannah McKay - Copyright Hannah Mckay(Reuters)

By Reuters

Published on 25/07/2019 - 10:04•Updated 30/04/2024 - 17:06

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LONDON (Reuters) - Shares in troubled British lender Metro Bank <MTRO.L> plunged by almost a fifth in early trading on Thursday, after it said customers had pulled 2 billion pounds out of the bank this year following a major accounting error in January.

The bank, which muscled onto Britain's high streets in 2010, also posted an 84 percent fall in half year profit on Wednesday and said its founder Vernon Hill would stand down as chairman.