Metro Bank has just released its latest results, at the somewhat curious time of 4.45pm.
What’s up, is chief executive Craig Donaldson not a morning person? Is this news management from a bank that can’t get out of the headlines just now?
Metro assures me I’m being suspicious for no reason, that this isn’t the first time it’s issued results after the market has closed.
A majority of its investors are American, so the timing works better for them, it argues.
Sure, I can see that. But the shares are listed here, not there, and the effect is that hacks have to write up the figures without knowing how the market has reacted to them.
Ordinarily we could just give Metro the benefit of the doubt, but they’ve been asking for that quite a lot lately, and not always been deserving of the privilege.
It’s had an accounting scandal that cost it customers. The chairman has been under pressure for months.
Donaldson himself even offered to resign.
There’s been much else besides. So it’s a funny time to draw attention to yourself in this way.
It’s probably perfectly innocent, but it looks fishy. I bet they go back to the old way before long.
