LONDON (AP) — Shares in the troubled British lender Metro Bank bounced back by a third on Friday on reports that it has been sounding out bigger rivals to buy a chunk of its assets.
Sky News reported that advisers to the bank have contacted Lloyds Banking Group and NatWest Group among others.
But it stressed that “no decision has been made on whether to proceed with any of these options."
Gary Greenwood, an equity research analyst for Shore Capital Markets, suggested that the business could struggle to find backers for a potential fundraising exercise.
Political Cartoons View All 1202 Images“Metro Bank has been struggling for a number of years to establish itself as a profitable and self-sustaining bank," he said.
Persons:
Gary Greenwood
Organizations:
Metro Bank, Sky News, Lloyds Banking Group, NatWest Group, London Stock Exchange, Shore Capital Markets, Bank
Locations:
Britain