Claims extracted
20
sentences that state something as happening or true
Uncertain
20%
4 of 20 hedged
("reportedly", "may", "according to")
Leaning
not political
takes no side on a contested political question
Publisher signals
65/100
The Guardian's corrections and
hedging, across everything collected from it. Not a measure of accuracy.
Outlets on this story
2
Economy/Business
Same framing elsewhere
1
articles that frame the event the way this one does
Metro Bank is putting itself up for sale three years after its near-collapse, in a move that could hand a £420m windfall to its Colombian billionaire investor, Jaime Gilinski Bacal.
uncertain
that → put → investor
Metro Bank made the rare decision to publicly announce it was open to bids on Thursday, paving the way for a wider pool of suitors.
asserted
it → make → suitors
The announcement pushed the share price up by 7% by mid-morning, valuing the bank at about £1.3bn.
asserted
announcement → push → 1.3bn
If successful, the sale would allow Gilinski Bacal a chance to sell out of the bank he helped save from near-failure in late 2023.
asserted
he → allow → 2023
The 68-year-old banking tycoon, who took a seat on Metro’s board after securing a 53% stake three years ago, has already seen a sixfold increase in the value of his shares, which he bought for just 30p each as part of a wider rescue deal.
asserted
he → take → deal
That means that at Thursday’s 190p share price, his British Virgin Island-based vehicle Spaldy Investments, could cash out with a £427m windfall.
uncertain
vehicle → mean → windfall
It would mark the latest turnaround success for the billionaire, who made his fortune snapping up assets of struggling lenders on the cheap, before overhauling their operations and selling them on for a big profit.
asserted
who → mark → profit
Gilinski Bacal is one of the wealthiest people in Latin America, worth about $16.9bn (£12.7bn), according to Forbes.
uncertain
Bacal → accord → Forbes
Metro Bank has been focused on a turnaround plan – which has involved lending more heavily to businesses and people with more erratic incomes – since it was forced into the £925m rescue deal in 2023.
asserted
it → focus → 2023
Metro was the first high street bank to open in the UK in more than 100 years when it was launched by another billionaire, the US businessman Vernon Hill, in 2010.
asserted
it → open → 2010
It attracted a wave of customers, and offered dog-friendly branches with seven-day openings.
asserted
It → attract → openings
However, it struggled after a major accounting blunder in 2019 that prompted investors to dump their shares and fearful customers to pull their cash.
asserted
customers → struggle → cash
It led to the resignation of top executives, as well as the then chair, Hill, who was well-known for having his yorkshire terrier Sir Duffy (and later Sir Duffy II) in tow.
asserted
terrier → lead → tow
Metro’s shares took another dive in 2023.
asserted
shares → take → 2023
That year, it emerged that the bank would need more cash from investors, having failed to convince regulators that it could be trusted to assess its own risks.
uncertain
it → emerge → risks
The lender finally secured a rescue, which was brokered in part by UK regulators at the Bank of England, in 2023.
asserted
which → secure → 2023
It has since embarked on the turnaround plan, which has increased its profits but came at a cost for staff and customers.
asserted
which → embark → staff
Metro’s chief executive, Daniel Frumkin, slashed more than 1,000 jobs in spring 2024 and decided to close branches on Sundays.
asserted
executive → slash → Sundays
The bank said on Thursday that a sale was just one of the options on the table and that it would still be able to go it alone if no suitable bidder came through.
asserted
bidder → say → it
Metro’s board “unanimously believes that evaluating potential interest in the company” through a potential sale “will maximise the value creation opportunities available to shareholders and deliver benefits for all stakeholders”, the bank said.
asserted
bank → believe → stakeholders
The Aporia
