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, lender's CEO Cezary Stypułkowski, admitted that in 2017, the bank will earn even less “I would rather assume that it will be slightly lower than in 2016], he said, saying that he hopes for PLN 1 billion in profits this year.