In Q3 mBank posted a record-high core income. This was coupled with a rise in its market share, both in loans and deposits. Risk costs fell.
The record-breaking income was driven by an improved net interest income and the highest net commission income in the bank’s history. The results were burdened by legal risk costs.
The first issue of green unpreferred bonds turned out to be a success. mBank will use the funds raised from the issue to finance or refinance eligible projects (largely housing mortgages).
mBank’s market share continues on an upward trend. In retail loans and deposits mBank has a share of 7.8 per cent and 8.3 per cent, respectively. In corporate banking the number of clients grew by 499 in Q3 2021.
The bank launched new products and innovations, such as authorisation of certain operations in the mobile app with a fingerprint or face scan.
In Q3 the bank posted a net interest income of PLN 1 billion and a net fee and commission income of nearly PLN 500 million. The results were burdened by legal risk costs reaching PLN 437 million. Net profit stood at PLN 26.6 million.