Locked content mBank to invest €50 million in start-ups

WSE-listed lender mBank has set up a €50 million fund for buying and developing Polish start-ups. “So far if someone in Poland had a good idea the best advice was to buy a ticket to San Francisco or London and develop your idea there,” Jarosław Mastalerz, head of the fund, said, explaining that the ...

Locked content mBank with better Q4 results

WSE-listed lender mBank, had a PLN 292.5 million (5.5 percent decline y/y) in Q4 earnings. Still, the bank beat expectations, which estimated net profits at PLN 263.4 million. For the whole year, the company had PLN 1.22 billion in net profit, a 6.3 percent drop y/y. Regarding the future, lenderR...

Marvipol will not acquire mLocum from mBank

Developer Marvipol and lender mBank have jointly decided to end negotiations regarding the acquisition of mLocum, a residential development company belonging to the mBank Group, citing the lack of agreement on the final structure and price of the planned transaction as the reason. The management boa...

Locked content BZ WBK and mBank y/y profits fall in Q3

Bank Zachodni WBK recorded a PLN 425.93 million consolidated net profit attributable to shareholders of the parent company in Q3 of 2016, a y/y drop from PLN 472.72 million, the bank reported. The bank’s net interest income stood at PLN 1.218 billion, up from PLN 1.09 billion a year earlier. N...

Locked content Court rejects mBank appeal on CHF credits

The Court dismissed mBank’s appeal against a ruling of the District Court for Łódź-Śródmieście in Łódź, which made financial awards in favor of 20 plaintiffs, holders of Swiss franc mortgage contracts with interest rates determined based on financial market parameters. The bank maintains that ...

Locked content More than 500 CHF mortgage holders file suit against mBank

More than 500 people have filed a class action lawsuit against mBank in the District Court in Łódź regarding contracts concluded by the bank for Swiss franc-denominated mortgage loans. A hearing in this case is scheduled for December 19, 2016. According to District Court judge Paweł Urbaniak, the la...

Locked content mBank supports Atal with PLN 20 mln loan

Real estate developer Atal has obtained a loan of PLN 20 million from commercial lender mBank, the company informed in a statement. The developer intends to use the funds to finance its Atal Malta estate in Poznań, which will comprise about 130-140 apartments. The loan must be repaid by September 28...

Locked content UOKiK submits to court over FX-mortgages at mBank

The Consumer Protection Authority (UOKiK) has for the second time struck down a contractual clause in some existing mortgage loans of commercial lender mBank, the watchdog informed on Friday. “Contract clauses that too vaguely indicate the grounds for changing interest rates are prohibited, as...

Locked content KNF approves mBank’s bond issue program worth PLN 15 bln

The financial market regulator KNF has approved mBank’s bond issue program worth PLN 15 billion, the watchdog informed. “The KNF approved an issue prospectus prepared by Warsaw-based mBank Hipoteczny in connection with the intention to apply for permission to trade covered bonds under a ...

Locked content UOKiK launches proceeding against mBank over FX-mortgages

The Consumer Protection Authority (UOKiK) has struck down a contractual clause in some existing home mortgage loans of commercial lender mBank which had allowed the bank to set discretionary margins on FX-mortgages, opening the door for those loans to be nullified, the head of UOKiK Marek Niechcial ...