Metro Bank (MTRO) - what’s the relevance of revenue per square foot!
Metro is still loss making, which isn’t a great reference for a bank, but it’s early days and the newcomer has plenty of capital and some rich institutional backers in Blackrock and Fidelity, among others.
Analysts at Jefferies praised Metro’s “unique model”, highlighting that revenue per square foot of £750, already places it among the UK’s top three retailers. We don’t see how revenue per square foot is a relevant measure for a bank,…
Previous article Next article