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mBank S.A. (MBAKF)

Other OTC - Other OTC Delayed Price. Currency in USD
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117.790.00 (0.00%)
At close: 10:35AM EDT
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  • Reuters

    Poland's mBank hopes to offer 2% mortgage loan in September

    GDANSK (Reuters) -Poland's mBank expects a drop in write-offs in future quarters from those in the second quarter, its chief executive said on Wednesday. CEO Cezary Stypulkowski also said the bank hopes to offer 2% mortgage loans in September, a special product with state subsidised instalments. An act on state aid for first-time homebuyers came into force in Poland on July 1.

  • Reuters

    Commerzbank to book further provision for mBank after court ruling

    Germany's Commerzbank said on Friday that it would book another provision of 342 million euros ($372.27 million) following a court ruling on how banks treat Swiss franc loans in Poland. The new figure means that Commerzbank, which has extensive operations in Poland through its mBank, has provisioned or made payouts of more than 2 billion euros to deal with the issue. The issue, which has affected banks across Poland, stems from more than a decade ago, when mortgage customers took out loans in Swiss francs to take advantage of low Swiss interest rates, only to face far higher costs when the value of the Polish zloty slumped.

  • Reuters

    Poland's mBank expects lower interest income as Q1 net profit drops

    However, the bank said core revenues were back on an upward trend thanks to an increase in net interest income (NII) and improving net fees. It said the cost of risk, which stood at 79 basis points, was within the guided range, with more of its Swiss franc mortgage portfolio covered by legal provisions.