Metrobank

Philippines Auto Finance Market Drives up a Gear: $51.6 Billion Growth Forecast by 2027: Ken Research

Retrieved on: 
Wednesday, February 14, 2024
Online, Interest, Traction, Risk management, Ease, Growth, Urbanization, Banco de Oro, Ford, Risk assessment, Toyota Financial Services, Ford Motor Credit Company, Metrobank, BPI, Real estate

Ken Research's " Philippines Auto Finance Market Outlook to 2027" report predicts a robust 10.2% CAGR, translating to a substantial $51.6 billion market size by 2027.

Key Points: 
  • Ken Research's " Philippines Auto Finance Market Outlook to 2027" report predicts a robust 10.2% CAGR, translating to a substantial $51.6 billion market size by 2027.
  • Beyond facilitating car purchases, the Philippines' auto finance market plays a crucial role in driving economic growth, promoting financial inclusion, and empowering Filipinos to achieve their car ownership dreams.
  • Technological Advancements: Online loan applications, digital onboarding processes, and mobile banking are making auto finance more accessible and convenient.
  • The Philippines' auto finance market is on an upward trajectory, offering exciting opportunities for businesses and investors who can adapt to the changing landscape.

Philippines Auto Finance Market Drives up a Gear: $51.6 Billion Growth Forecast by 2027: Ken Research

Retrieved on: 
Wednesday, February 14, 2024
Online, Interest, Traction, Risk management, Ease, Growth, Urbanization, Banco de Oro, Ford, Risk assessment, Toyota Financial Services, Ford Motor Credit Company, Metrobank, BPI, Real estate

Ken Research's " Philippines Auto Finance Market Outlook to 2027" report predicts a robust 10.2% CAGR, translating to a substantial $51.6 billion market size by 2027.

Key Points: 
  • Ken Research's " Philippines Auto Finance Market Outlook to 2027" report predicts a robust 10.2% CAGR, translating to a substantial $51.6 billion market size by 2027.
  • Beyond facilitating car purchases, the Philippines' auto finance market plays a crucial role in driving economic growth, promoting financial inclusion, and empowering Filipinos to achieve their car ownership dreams.
  • Technological Advancements: Online loan applications, digital onboarding processes, and mobile banking are making auto finance more accessible and convenient.
  • The Philippines' auto finance market is on an upward trajectory, offering exciting opportunities for businesses and investors who can adapt to the changing landscape.

Philippines Home Finance Market Booms: Unlocking a $141.2 Billion Opportunity by 2027: Ken Research

Retrieved on: 
Wednesday, February 14, 2024
Interest, Documentation, Blockchain, AI, Traction, Housing, Growth, Pag-IBIG Fund, Government, Urbanization, Banco de Oro, Union Bank, Formal, City, Fintech, Risk assessment, Filipinos, Data wrangling, Metrobank, BPI, Renewable energy

Ken Research's " Philippines Home Finance Market Outlook to 2027" report predicts a steady 3.7% CAGR, translating to a staggering $141.2 billion market size by 2027.

Key Points: 
  • Ken Research's " Philippines Home Finance Market Outlook to 2027" report predicts a steady 3.7% CAGR, translating to a staggering $141.2 billion market size by 2027.
  • Beyond facilitating homeownership, the Philippines' home finance market plays a crucial role in stimulating economic growth, fostering financial inclusion, and empowering Filipinos to achieve their dream homes.
  • Favorable Demographics: A young and growing population with aspirations for homeownership presents a large potential customer base for the market.
  • The Philippines' home finance market is ripe for growth, offering exciting opportunities for businesses, investors, and policymakers.

Philippines Home Finance Market Booms: Unlocking a $141.2 Billion Opportunity by 2027: Ken Research

Retrieved on: 
Wednesday, February 14, 2024
Interest, Documentation, Blockchain, AI, Traction, Housing, Growth, Pag-IBIG Fund, Government, Urbanization, Banco de Oro, Union Bank, Formal, City, Fintech, Risk assessment, Filipinos, Data wrangling, Metrobank, BPI, Renewable energy

Ken Research's " Philippines Home Finance Market Outlook to 2027" report predicts a steady 3.7% CAGR, translating to a staggering $141.2 billion market size by 2027.

Key Points: 
  • Ken Research's " Philippines Home Finance Market Outlook to 2027" report predicts a steady 3.7% CAGR, translating to a staggering $141.2 billion market size by 2027.
  • Beyond facilitating homeownership, the Philippines' home finance market plays a crucial role in stimulating economic growth, fostering financial inclusion, and empowering Filipinos to achieve their dream homes.
  • Favorable Demographics: A young and growing population with aspirations for homeownership presents a large potential customer base for the market.
  • The Philippines' home finance market is ripe for growth, offering exciting opportunities for businesses, investors, and policymakers.

Results of Voting at the General Meeting

Retrieved on: 
Thursday, December 14, 2023
Prospectus, Admission, LSE, Metrobank, Takeover, Letter, Mergers and acquisitions, Panel, Pseudo city code, BANK, ANY, Concert party (business), Official List, Bank Holding Company Act, Annual general meeting, METRO, Mass meeting, Telephone numbers in Hungary, Holding company, Security (finance)

Metro Bank is pleased to announce that, at the General Meeting convened pursuant to the Notice of General Meeting, the Resolutions (as set out in the Notice of General Meeting) were duly passed with very strong support with over 90% of shareholders voting in support of all resolutions.

Key Points: 
  • Metro Bank is pleased to announce that, at the General Meeting convened pursuant to the Notice of General Meeting, the Resolutions (as set out in the Notice of General Meeting) were duly passed with very strong support with over 90% of shareholders voting in support of all resolutions.
  • The Prospectus contained a Notice of General Meeting seeking shareholder approval to undertake the Firm Placing and to approve the waiver of the obligation of the Concert Party to make an offer under Rule 9 of the City Code on Takeovers and Mergers.
  • Capitalised terms defined in the Prospectus have the same meaning when used in this announcement, unless otherwise defined in this announcement.
  • The Company will release further announcements in respect of the progress to completion of the Capital Package as required.

Board Update

Retrieved on: 
Thursday, December 14, 2023
Metro, LSE, Growth, Chair, Risk, Bank, Metrobank, Bank Holding Company Act

Metro Bank Holdings PLC (LSE: MTRO LN)

Key Points: 
  • Metro Bank Holdings PLC (LSE: MTRO LN)
    Metro Bank Holdings PLC (“Metro Bank” or the “Company”) today announces that, having steered the Company through its turnaround plan and delivered the recapitalisation announced on 8 October 2023 Anne Grim, Ian Henderson and Monique Melis have decided to step down from the Board effective 31 December 2023.
  • Following these changes, the Board (excluding the Chair) will comprise five Non-Executive Directors, four of whom are independent, and two Executive Directors.
  • Commenting, Robert Sharpe, Metro Bank Chair, said: "In the years which Anne, Ian and Monique have served the Board, the Bank has made significant improvements to its risk and control framework and is now primed for growth.
  • I would like to thank each of the Directors for their contribution and dedicated service to Metro Bank.”

Update on Cost Reduction Plan and Completion of the Firm Placing

Retrieved on: 
Tuesday, December 5, 2023
European Union (Withdrawal) Act 2018, Automation, ANY, Metrobank, Element, Bank Holding Company Act, LSE, IT, OR, London Stock Exchange Group, FCA, Growth, Official List, Financial Conduct Authority, AFRICA, Environment, Cryptocurrency, Bank, Security (finance), EU

After further evaluation of the cost base, Metro Bank has now identified potential cost savings of up to £50 million per year.

Key Points: 
  • After further evaluation of the cost base, Metro Bank has now identified potential cost savings of up to £50 million per year.
  • The cost reduction plan will support Metro Bank in taking advantage of this opportunity.
  • The £150 million of new equity was structured as a firm placing of 500,000,000 new ordinary shares at an issue price of 30 pence per new ordinary share (the “Firm Placing”).
  • On 27 November 2023, the Company announced the passing of the shareholder resolutions necessary to approve the Firm Placing.

Notice of Written Resolution

Retrieved on: 
Tuesday, November 7, 2023
ACT, INDEPENDENT, TAX, Disclosure, AFRICA, Trust deed, BANK, Settlement date, ANY, BY, FINANCIAL, NOT, Metrobank, AND, SELL, Trustee, Protected trust deed, THIS, Table (information), ACTION, YOU, AN, Financial adviser, Security (finance), Issuer, Note

The Issuer today announces the circulation of a notice of written resolution (the “Notice of Written Resolution”) requesting that holders of the Notes (the “Noteholders”) consider the extraordinary resolution set out in the Notice of Written Resolution being proposed as a written resolution, which contains the proposal by the Issuer for Noteholders to consent to amendments to the trust deed dated 17 September 2019 between Metro Bank PLC (“Metro Bank”) and The Law Debenture Trust Corporation p.l.c.

Key Points: 
  • The Issuer today announces the circulation of a notice of written resolution (the “Notice of Written Resolution”) requesting that holders of the Notes (the “Noteholders”) consider the extraordinary resolution set out in the Notice of Written Resolution being proposed as a written resolution, which contains the proposal by the Issuer for Noteholders to consent to amendments to the trust deed dated 17 September 2019 between Metro Bank PLC (“Metro Bank”) and The Law Debenture Trust Corporation p.l.c.
  • (the “Trustee”), as supplemented by a supplemental trust deed dated 19 May 2023 between the Issuer, the Trustee and Metro Bank (together, the “Trust Deed”), by way of a second supplemental trust deed to modify, upon prior satisfaction of the Effectiveness Conditions (as defined in the Notice of Written Resolution) and with effect on and from the Settlement Date (as defined in the Notice of Written Resolution and currently expected to be 30 November 2023), Condition 10(a) of the terms and conditions of the Notes such that the maturity date of the Notes will be the Settlement Date and the redemption of the Notes will be effected by way of delivery, to the holders thereof, of (i) the £1,000 in principal amount of the New MREL Notes (as defined in the Notice of Written Resolution) to be issued by the Issuer for each £1,000 in principal amount of Notes held by each such Noteholder and (ii) the Accrued Interest Amount (as defined in the Notice of Written Resolution) in cash, as well as consequential or related amendments to the Trust Deed (as more fully described in the Notice of Written Resolution, the “Proposal”).
  • Noteholders are urged to read the Notice of Written Resolution carefully, together with any other publicly available information on the Issuer and its group which such Noteholder shall deem necessary, before submitting a Voting Instruction in connection with the Written Resolution (each as defined in the Notice of Written Resolution).
  • Any questions relating to this Announcement or the Notice of Written Resolution should be addressed to the Tabulation Agent as follows:

Metro Bank Holdings PLC: Third Quarter 2023 Trading Update

Retrieved on: 
Tuesday, November 7, 2023
Acquisition, Metrobank, Cryptocurrency, Bank

As announced on 8 October, post quarter end Metro Bank noted an increase in deposit outflow rates in advance of the announcement of the capital package.

Key Points: 
  • As announced on 8 October, post quarter end Metro Bank noted an increase in deposit outflow rates in advance of the announcement of the capital package.
  • Since the announcement, daily flows have returned to more normal ranges.
  • The third quarter delivered continued momentum in Personal and Business Current Account growth and customer acquisition as well as a modest statutory profit after tax.
  • Lending reflects continued controlled asset origination and as such capital resources were broadly flat relative to 30 June levels.

Metro Bank is pleased to announce receipt of over 75% support commitments from Tier 2 and MREL noteholders for Debt Refinancing

Retrieved on: 
Tuesday, October 17, 2023
Capital, MAR, RBC, PRA, RBC Capital Markets, Morgan Stanley, FCA, United Kingdom, Prospectus, Transaction, Disclosure, Financial Conduct Authority, Metro, Metrobank, Capital market, Moelis & Company, Cryptocurrency, Property management, Audit, Security (finance)

A copy of the Prospectus and Circular, once published, will be available on Metro Bank’s website at https://www.metrobankonline.co.uk.

Key Points: 
  • A copy of the Prospectus and Circular, once published, will be available on Metro Bank’s website at https://www.metrobankonline.co.uk.
  • Neither the content of Metro Bank’s website nor any website accessible by hyperlinks on Metro Bank’s website is incorporated in, or forms part of, this announcement.
  • The Prospectus and Circular will provide further details of the Transaction, including securities being issued pursuant to the Equity Raise and the Debt Refinancing.
  • This release contains certain forward-looking statements, which are based on current assumptions and estimates by the management of Metro Bank.