Locked content mBank says PLN 1.25 bln profit for 2018 is ‘within reach’

Lender mBank stated that net profit from base operations at PLN 1.25 billion, as has been forecast by analysts, is “within reach,” CEO of mBank Cezary Stypułkowski said at a press conference. In H1 of this year, the mBank group recorded net profit of PLN 698.4 million. In Q1, the sale of mFinanse br...

Locked content mBank and Orange cancel cooperation deal on banking

WSE-listed bank mBank and telecom operator Orange Polska have decided to finish their 4-year long deal for banking services. Cooperation will end on December 31, 2018. Under the agreement signed back in 2018, mBank offered its financial services to Orange Polska clients under the Orange Finanse bran...

Major lease deal at Zebra Tower in Warsaw

mBank has leased approximately 4,700 sqm of office space in the Zebra Tower building in downtown Warsaw, which is owned by Union Investment Real Estate. The tenant will move into the property by mid-September. Union Investment was advised on the deal by Cushman & Wakefield. Completed in 2010 by ...

Locked content mBank with PLN 411 mln profit in Q1

mBank recorded consolidated net profit of PLN 411 million in Q1 2018, up from PLN 218.78 million in the corresponding period of last year, the lender stated in a report. Profit form interest increased to PLN 816.42 million from PLN 749.01 million posted in Q1 2017. Profit from commissions reached PL...

Locked content mBank to boost Q1 results by PLN 177 mln

WSE-listed lender mBank will book PLN 177 million one-off to its Q1 results from the sale of a part of its mFinanse unit. Additionally, the bank could book up to PLN 192 million in net profit over the next six-year period, depending on the subsidiary performance. Last year, mBank sold part of mFinan...

Locked content mBank Q4 profit up

WSE-listed mBank posted an attributable net profit of PLN 311.6 million in Q4, up by 6.9 percent q/q, and 3.3 percent above the market expectations. Net interest earnings amounted to PLN 825.1 million, up by 3.6 percent q/q, with interest revenues down by 9.9 percent, and costs declining by 13.9 per...

Locked content Apple Pay to be launched in Poland next year?

According to Cashless website, five Polish banks are negotiating with Apple regarding launching Apple Pay service in Poland. Apple was the side initiating the talks sending out feelers to Polish banks this month. Some of the lenders declined to enter negotiations, however, five has started talks. Th...

Locked content mBank with a deal to sell mFinanse

WSE-listed mBank, signed a conditional deal to sell part of its unit mFinanse to Phoebe IVS for up to PLN 520 million, the company said in a market filing. “The organized part of enterprise forms a separated business activity consisting in provision by mFinanse acting in the capacity of an insurance...

Locked content KNF raises mBank’s FX mortgage capital buffer

The Financial Supervision Authority KNF asked WSE-listed mBank to raise its FX-denominated mortgage buffer to 4.10 pps, from the previous 3.81 pps. Of the buffer, 75 percent is to be maintained in Tier 1 capital and 56 percent in Core Tier 1 capital. mBank stated that it meets such requirements at t...