Metro Bk Hldgs Plc (MTRBF) Q4 2024 Earnings Call

Investor webinar replay

Watch the replay and follow the connected company analysis, news, and investor updates for Metro Bank Holdings Plc.

Watch the replay

Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:02.875 Good morning and thank you all for joining us this morning. 00:00:02.875 -- 00:00:06.260 I know it's a busy reporting day and I appreciate you taking the time. 00:00:06.260 -- 00:00:10.146 So this is Metro Bank's full year results 2024 presentation. 00:00:10.146 -- 00:00:13.231 I'm Daniel Frumkin, the CEO of Metro Bank. 00:00:13.231 -- 00:00:19.300 I'm joined today by Mark Page. Mark joined us from Barclays a few months ago. 00:00:19.300 -- 00:00:24.547 He has a depth of experience in retail banking across the UK that is hugely 00:00:24.547 -- 00:00:29.497 beneficial to Metro Bank and we're really Really pleased that he's chosen to join us, 00:00:29.497 -- 00:00:32.205 and he'll walk you through the financial performance. 00:00:32.205 -- 00:00:35.874 I'll come back on and do a bit of strategy, and then we're happy to do Q&A. 00:00:35.874 -- 00:00:42.150 So let's kick off. So listen, 2024 was a transitional year for Metro Bank. 00:00:42.150 -- 00:00:45.054 I think the strategy delivered exactly what we said it would deliver. 00:00:45.054 -- 00:00:48.157 Our operational results support 00:00:48.157 -- 00:00:53.304 the strategy we put in place. We outperformed all guidance that we provided 00:00:53.304 -- 00:00:57.909 for year-end 2024. At the half year, we stood up and provided robust guidance. 00:00:57.909 -- 00:01:02.034 We said that net interest margin would be approaching 2.5% 00:01:02.034 -- 00:01:07.665 by the end of the year. Exit net interest margin was actually 2.65%, a 00:01:07.665 -- 00:01:11.851 significant beat on the guidance provided. 00:01:11.851 -- 00:01:15.596 As part of the guidance we provided that we would be profitable during quarter four, 00:01:15.596 -- 00:01:20.623 not even for the whole quarter, and yet we g...