mBank has higher profits than expected

Polish commercial lender mBank, reported an unchanged net profit in the fourth-quarter of 2015 on a yearly basis, however, it was above market forecasts, despite higher spending. mBank's net profit stood at PLN 309.5 million in the period, compared to PLN 283 million expected by analysts in a Reuters poll, the agency reported. For the whole of 2015, mBank's net profit stood at 1.3 billion, whereas it was PLN 1.29 billion a year earlier. Additionally, mBank's CE said that the lender intends to pay out dividends this year. mBanks is a unit of German Commerzbank.