mBank profit higher than expected

Polish lender mBank, part of the Commerzbank capital group, has a consolidated net profit of PLN 314.2 million in the fourth quarter of 2013 compared to PLN 275.8 million a year earlier. The result was higher than market consensus of PLN 300 million. The bank’s  full-year consolidated net profit in 2013 was PLN 1.2 billion, the Polish Press Agency reported. mBank’s net interest income in Q4 2013 was PLN 588.1 million, slightly higher than analysts’ expectations of PLN 571.1 million. Net fees and commissions came in at PLN 228.9 million, again higher that market consensus of PLN 222.4 million. /kw/jb