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car crash as expected
Nov - Please lets have your honest opinion, is it worth topping up? or leave it alone..
Absolutely horrendous results
they'll need to raise more funds - big structural problems - it's only been a takeover play for months, I didn't believe the ramping, suspected the big June volume was just a rumour that turned out to be the cr@ppy ratesetter deal
nothing at all in the statement to be positive about, I'd avoid for now until certain issues become clearer..
I’m going for down 30p
Ouch I thought Lloyds did bad, gutted because I think my bonds are smoked now.. tough write off that will be..
Not gonna lie here looks like it’s game over.
Not that bad, just -£1 eps, with all this equity reserve it can last for quite a while taking such hits for say 4-5 years without much sweat. Has anyone expected it to make profits?
Not that bad at all given the market conditions and what was expected. The business is growing and being transformed. Better than expected
Loss provision delta is just £115m (150m total) vs loan book of 15B, consistent with benchmark (other banks) of 1% reservation.
Flipping heck ......
Last are you on drugs? Lol markets had already priced in dire results and big losses. All being considered these aren’t bad at all I’m not just that it looks like Metrobank I’ve got a very bright Future with a growing business. Deposits are far more than expected and that considering COvid 19 outbreak. I know you sold yesterday and hoping to get in again and may well have a chance to but I reckon the upside here far away is the downside
SurreyLad - Flipping heck? And you've expected it to make profits?
Most of it provision for defaults and revenue drop (interest having issue all across market)
IMO - nothing extraordinary, all as expected, no surprises, in line with expectations.
Let’s see how the market takes it..... flipping heck I say
No lcr I'll download now.
To report an UNDERLYING loss 20% HIGHER than your revenues in H1 confirms SERIOUS structural problems.
That is exactly equivalent to a scenarios of Lloyds reporting an underlying loss of £8.9BILLION in H1 2020.
Flipping heck would be a surprise with 500m direct loss, current report sits somewhere between nah and yeah
Cheers LCR. Nice one.
Jinny122 - these are provisions on defaults due to fall of income (unemployment/business bust, etc.)
Nothing unusual for fractional banking, all comes a bit multiplied, they tend to over-provision first just to be safe then reverse it back to profit for next period if everything goes better than expected (collections)..
With most of portfolio sitting at residential mortgage and expected 15% market drop there (valuations) it's worth keeping in mind - these loans are (1) collateralized and (2) partially pre-paid (principal, deposit), therefore property market can collapse even deeper - we're still good (although admin costs are inevitable, plus discount on fraction of portfolio sell to collection businesses)
i got my last tranche out at 103.4 just now....on HL
I don’t think the results as half as bad as people expected. I mean what were you expecting?Future is quite bright here with growing customer deposits opening new branches and new employees being taken on