mBank with higher net profits in Q1 y/y

Commercial lender mBank reported consolidated net profits of PLN 380.9 million in the first quarter of the year, compared with PLN 305.2 million in Q1 2014, the bank informed in a report. The lender's net interest income stood at PLN 587.44 million in Q1 2015 versus PLN 591.01 million in Q1 2014. Net fees and commissions came in at PLN 214.18 million, compared with PLN 257.68 million in the previous year. The bank's assets stood at PLN 123.2 billion at the end of Q1 2015, versus PLN 107.1 billion in the previous year. mBank's CFO and deputy head Joerg Hessenmueller said the lender might issue around €500 million. mBank, owned by Commerzbank, is currently the 3rd largest retail bank in Poland in terms of the number of customers. It also operates in the Czech Republic and Slovakia.