Thanks to its unique business model and consistently implemented strategy, mBank Group developed dynamically in 2019. Income of mBank hit record high and totalled more than PLN 5.5 billion. Net profit stood at PLN 1,010.4 million.
The key events of 2019 include:
Increase in income by 9% (14% excluding profit from a one-off transaction concluded in 2018), including a rise in net interest income by 14%;
Increase in interest margin by 11 bps. to 2.7%, attributable to a change in the structure of assets;
Improvement in efficiency measured by the cost-to-income ratio to 42.2%;
Increase in gross loans by 11%, including a rise in loans to retail clients by 14% and in loans to corporate clients by 8%;
Dynamic inflow of funds into current and savings accounts of retail clients (+20%);
Dynamic increase in mortgage loan sales by 77%; record-high sales of non-mortgage loans (PLN 10.3 billion, i.e. +15%);
High quality of capital base – capital ratios surpassing regulatory requirements: Tier 1 capital ratio at 16.5%, Total Capital Ratio at 19.5%;
Strengthening of mBank’s position as a mobile and transactional bank – the largest share of mobile app users in the client base on the market;
Adoption of the new mBank Group Strategy for 2020-2023 – “Client-driven Growth”.
Innovations and products enhancing customer experience:
New online banking homepage allowing clients to adjust the displayed information to their needs;
Lease solutions for SME clients thanks to the acquisition of LeaseLink;
Online factoring services for sole proprietors;
Initiatives of general interest, in particular environmental initiatives:
restricted funding for coal power industry and coal mines;
increased funding for renewable energy projects to PLN 1 billion.