Metro Bank scales back expansion plans after £131m loss
(The Guardian Business News)

Bank takes £27m hit to cover costs of investigation into accounting errorMetro Bank is significantly scaling back expansion plans after recording a loss of more than £130m caused partly by an accounting error.Metro is also handing back nearly half of a £120m award it received last year from a government-backed scheme meant to boost competition in the business banking market. The award was made just weeks after the accounting error was disclosed. That scheme is bankrolled by Royal Bank of Scotland, as part of conditions attached to its £45bn bailout during the 2008 financial crisis. Continue reading...