Metro Bk Hldgs Plc (MTRBF) Q2 2024 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:05.163 Good morning, everyone. Welcome to Metro Bank's half-year results presentation. 00:00:05.163 -- 00:00:10.677 I'm Daniel Frumkin, the CEO, and with me today is Christina, 00:00:10.677 -- 00:00:15.950 our CFO, who's been filling in admirably while we wait for Mark Page to join us 00:00:15.950 -- 00:00:17.750 in September. 00:00:17.750 -- 00:00:19.592 Today we're going to go through a bit of an overview. 00:00:19.592 -- 00:00:22.556 I'm not going to talk about the existing financial results for the first half. 00:00:22.556 -- 00:00:27.923 I'll let Christina do that. I would just say they're exactly as we expected and in line 00:00:27.923 -- 00:00:33.930 with the transitional year we discussed at our year-end results. 00:00:33.930 -- 00:00:37.335 What I'm going to spend a lot of time on is talking about the future, the future we see 00:00:37.335 -- 00:00:41.122 for Metro and the future we see for all stakeholders. 00:00:41.122 -- 00:00:44.465 Then Christine will come up and talk a bit about financial performance, and I'll come 00:00:44.465 -- 00:00:47.408 back and talk a little bit about the path forward. 00:00:47.408 -- 00:00:51.090 So let's talk about what we see in the future. 00:00:51.352 -- 00:00:56.638 So let's start with the biggest thing. We will be profitable during quarter four. 00:00:56.638 -- 00:01:02.243 The turnaround, the transitional year, whatever phrase you like to use, 00:01:02.243 -- 00:01:04.566 is coming to completion. 00:01:04.566 -- 00:01:09.989 We will return to sustainable profitability during quarter four 24. 00:01:10.703 -- 00:01:15.769 In addition, we're increasing our guidance on return on tangible equity for 00:01:15.769 -- 00:01:19.130 the next three years. 00:01:20.013 -- 00:01:24.138 So we'll deliver m...