World's largest bank grants mBank a €130 mln loan
17:01
Polish commercial lender mBank has concluded an agreement with the Industrial and Commercial Bank of China (ICBC Europe) in terms of receiving a €130 million (PLN 575 million) loan, ICBC informed on its website.
"Industrial and Commercial Bank of China (Europe) S.A., Poland Branch has signed a bilateral Loan Agreement with mBank S.A., providing Poland's fourth biggest bank a three-year, €130 million loan," the statement read.
“This is the first loan facility we have provided bilaterally to a local financial institution in Poland," Deputy General Manager of ICBC's Poland Branch Li Qin said in a statement.
mBanks is a unit of German Commerzbank, one of the leading commercial banks in Poland. The Bank has been listed on the Warsaw Stock Exchange since 1992. At the end of 2015, total assets of the bank equaled PLN 123.52 billion.
