Locked content Three Polish firms out of Austrian index

Two lenders, Alior Bank and mBank as well as Tauron, electric energy provider, will exit CECE PTX of the Vienna Stock Exchange (VSE) on March 23, the Vienna market said on its website. Currently, the index includes such Polish companies as Pekao, BZ WBK, Eurocash, KGHM, Orange Polska, PGNiG, PKN Orl...

Locked content mBank net profit up in 2014

Poland’s lender mBank had a consolidated net profit of PLN 1.286 billion in 2014, compared with PLN 1.206 billion in 2013, the company announced. The total value of assets stood at PLN 117.98 billion at the end of 2014, versus PLN 104.28 billion at the end of 2013. MBank, owned by Commerzbank,...

Locked content mBank enters the food sector

Poland’s lender, mBank presented a new strategy to enter the Polish food sector. The company has already chosen 17,000 potential partners, Puls Biznesu daily reported. “There is no way not to do business with a part of the economy whose share in GDP is 17 percent. Major corporations have...

Locked content Polish banks’ brands more valuable

The brands of Polish banks saw exceptional growth compared with the rest of Europe, according to The Brand Finance Banking 500 report issued by Brand Finance, an intangible asset valuation consultancy company. PKO BP brand is worth $1.594 billion and is the 115th most valuable banking brand in the w...

Locked content mBank Hipoteczny plans further covered bond issues

mBank Hipoteczny, the mortgage unit of lender mBank, will issue covered bonds worth PLN 1 billion in 2015 after a similar total level of issues this year, the group’s CEO Cezary Stypułkowski was quoted as saying by ISBnews. “The first issues in August showed that there is high demand, this yea...

Locked content mBank results in line with consensus

Commerzbank-held lender mBank recorded a net profit of PLN 315.5 million in the third quarter of 2014 compared to PLN 288.6 million a year earlier. Analysts polled by the Polish Press Agency had expected the result to be PLN 310.5 million. The bank’s net interest income in Q3 2014 was PLN 649....

Locked content mBank shuts down its mobile phone unit

Lender mBank will shut down its mobile virtual network operator mBank mobile at the end of November, the bank said in a statement on Wednesday. Its customers will receive offers from telecom firm Orange. The bank said that the MVNO project lost its appeal as the idea of mobile banking evolved in the...

Locked content Orange Finance foresees as many as 1 mln customers

Polish banking institution, mBank and Orange have joined together to offer Orange Finance. The investors are expecting as many as 1 mln customers to partake in the newly founded financial services offer. The forecast also foresees revenue in the hundreds of złotys in the third year of operation if t...

Locked content AXA buys BRE insurance firm

Insurance giant AXA has acquired the non-life insurance firm of mBank, BRE TuiR, the company said in a press release on Friday. The buyer will pay PLN 570 million. The deal value may be adjusted upon completion plus an additional amount may be paid when certain conditions are met. The takeover is su...

Locked content AXA to buy BRE Ubezpieczenia – paper

French insurance giant AXA is close to acquiring BRE Ubezpieczenia, the insurance unit of lender mBank, according to sources quoted by Puls Biznesu. The acquisition also involves bancassurance cooperation with the seller. “AXA won the auction for BRE Ubezpieczenia. It is offering PLN 500 million for...