MCB’s interest rate risk widens as funding turns costlier
Rotation into remunerated deposits and short-term borrowing raises liabilities’ sensitivity
Metropolitan Commercial Bank (MCB)’s funding base turned ever more costly in the second quarter, exposing income to a larger potential hit from further interest rate hikes.
Unremunerated customer deposits, which have dwindled since the bank announced it would stop servicing cryptocurrency-related businesses, plummeted by $392 million to $1.7 billion during Q2. The drop was more than offset by a
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