Metro Bank has issued statements quelling rumours that it is going through a downward spiral.
Customers were fleeing to its West London branches to withdraw money, following false Whatsapp messages that advised customers in the area to do so.
Metro Bank was in the final stages of a plan for new shareholders to raise £350 million of equity.
The group said in a statement at the weekend: “We’re aware there were increased queries in some stores about safe deposit boxes following false rumours about Metro Bank on social media and messaging apps.”
It follows an unstable quarter for it’s share prices which saw a slump in profits and an accounting scandal in January which caused the shares to plummet by almost 40%.
The bank have taken to social media to assure it’s customers that the rumours are false.
We issued our last set of financial results earlier this month and have had a solid start to the year. 2/2 ^LA
— Metro Bank Help (@MetroBank_Help) May 13, 2019
Michael Hewson, chief market analyst at CMC Markets, said: “Not surprisingly shareholders are furious, having already been tapped for £300 million last summer, they haven’t answered any of the questions around why the error happened in the first place.”
The bank is the first new high street bank to launch in the past 150 years, and is known for its unique approach to banking.
It is the only bank that is open on Sundays and provides dog food and treats to its canine customers.
