Metro Bank Shares Lose Nearly 40%

Metro Bank is a UK challenger bank which recently shared a mistake in how they classified their loan book; the mistake related to how they classified commercial property loans and loans to operators in the commercial buy-to-let business; the share price subsequently dropped on the news by almost 40%, shaving off £800 in value; the bank launched back in 2010 and has been opening branches while other banks have been shuttering their branch networks. Source