mBank and PGGM have entered into a credit risk sharing transaction based on the Polish bank’s corporate loans portfolio. The transaction relates to a PLN 9 billion portfolio of loans to large, medium and small Polish corporates. The transaction marks the first partnership with a Polish bank for the Dutch pension investor PGGM, and the first securitization transaction for mBank.
This transaction marks the expansion of our credit risk sharing investments to a new market. It is of great importance to us to be able to do so in partnership with mBank, a dynamic and ESG-conscious organisation with arguably the youngest client demographic in Poland. mBank’s strong organic growth rate in recent years is underpinned by a clear focus on automation and digitalisation of its services
Luca Paonessa, senior director credit and insurance linked investments at PGGM.
The completed transaction is of strategic significance for the Bank and will support the growth in lending activity across the Bank’s business segments, in line with our recently announced strategy for the years 2021- 2025. As one of the largest and most experienced SRT investors in the market, PGGM is a trusted partner for some of the largest banks globally - and we are proud to be joining forces for their first transaction in the Polish market. Innovation is a core strength of mBank. Together with PGGM – and with the support of our advisors – we have executed a transaction that is not only innovative, but also a landmark for the Polish market.
Karol Prażmo, managing director treasury and investor relations at mBank.
PGGM is a not-for-profit cooperative pension fund service provider. As a pension administrator, asset manager and advisor to pension fund boards, it executes its social mandate: to provide for good old-age incomes for 4.4 million participants in the Netherlands. On December 31, 2021 PGGM managed long-term pension capital of EUR 291 billion worldwide. Rooted firmly in the Dutch healthcare sector, PGGM develops innovative provisions for labour market issues in this sector, alone or with strategic partners. Our member organisation PGGM&CO supports 764,000 workers and pensioners with a background in healthcare.