Metrobank shares hurting amid new scam fears
Shares have plunged over the past trading days until the bank denied any new controversy.
Share prices of the Metropolitan Bank & Trust Company (Metrobank) have tanked by seven percent early July amid some market speculation over a new scam involving bilyonaryo George Ty’s bank.
Metrobank has set the record straight to deny another loan fraud, which follows the P1.75-billion scheme orchestrated by its bank vice president Maria Victoria Lopez unearthed in July 2017.
“In response to PSE’s request for clarification, we confirm that there is no new loan scam as referenced in the Biz Buzz article dated July 9, 2018,”Metrobank said in a disclosure.
Will this normalize trading for the bank’s stocks? Stay tuned.