In Q3 2015 mBank Group generated a net profit of PLN 319.5 million up by 44.4 % quarter on quarter. In three countries mBank is already serving 5 million clients.
The bank reported much higher net income. In Q3 2015, it amounted to PLN 979.9 million, up by 10.7% compared with Q2. This was due to a 6.0% increase in interest income and a 2.3% increase in commission income. Net trading income, which reached PLN 84.1 million, that is over two times higher than in the previous quarter, had the greatest positive impact on the bank’s income.
The quarterly decrease in operating costs by 4.3% also had a positive effect on mBank’s results. Consequently, the cost/income ratio reached 47.4% in Q3 2015 compared with 54.8% in Q2 2015.Q3 was also a time of continued organic growth of business. The number of individual clients increased by 130 thousand and corporate clients by 432 companies. mBank serves over 5 million clients (individual and corporate) in Poland, the Czech Republic and Slovakia.
At the end of Q3, the net value of loans and advances reached almost PLN 79,4 billion, up by 2.8% compared with the first six months of the year. The change was mainly driven by an increase in the volume of corporate loans, while the volume of retail loans remained stable due to systematic repayments of mortgage loans denominated in the Swiss franc and strengthening of the zloty. In Q3 the volume of customer deposits increased by 7.5% quarter on quarter and stood at PLN 78.5 billion. As a result, the loan to deposit ratio of mBank Group stood at 101.1%.mBank Group’s capital ratios remained at a safe level, higher than during in the past quarter as a result of recognising part of the profit for H1 2015 as Common Equity Tier 1. At the end of September 2015 the total capital ratio and Common Equity Tier 1 ratio stood at 17.0% and 14.1%, respectively.Q3 2015 was yet another quarter when mBank was appreciated by its clients and experts. In the 14th edition of the "Newsweek’s Friendly Bank" competition mBank ranked second in the following categories: "Internet Banks" and "Mobile Banking" and third in the best "Bank for Kowalski". Moreover, mBank came second in the "Best Bank for Companies" ranking organised by Forbes monthly magazine.