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 mFinanse to Danish Phoebe IVS for PLN 491 million. The bulk of the payment (PLN 465 million) will be spread over a 15 year period.