February 26, 2020 / 7:13 AM / a month ago

Britain's Metro Bank posts $170 million pretax loss

Feb 26 (Reuters) - Metro Bank posted a 130.8 million pounds ($170 million)pretax loss on Wednesday, capping a year dominated by an accounting scandal that sent its stock into a tailspin, forced top bosses to quit and led some customers to shut accounts. “Our financial performance reflects a very challenging year for Metro Bank,” Chief Executive Officer Dan Frumkin said. The challenger bank reported an underlying pretax loss of 11.7 million pounds for the 12 months ended Dec. 31 from a profit of 50 million pounds a year earlier.

$1 = 0.7696 pounds Reporting by Iain Withers in London and Muvija M in Bengaluru, editing by Sinead Cruise

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