mBank’s legal risk costs related to foreign currency-indexed loans recognised in Q2 2024 amounted to PLN 1,005.6m, the bank said. These are mainly due to updated litigation forecasts, as well as updated assumptions for penalty interest costs and other model and market parameters. The bank also stated that the estimated preliminary net income for Q2 2024 is positive.
At the same time, mBank said that the positive performance of its core business continued in Q2 2024.
The Tier 1 capital ratio and total capital ratio for the mBank Group in Q2 2024 are expected to be at levels materially above the capital requirements, which for the mBank Group are 9.1% for the Tier 1 capital ratio and 11.1% for the total capital ratio. Excesses over capital requirements in Q2 2024 are expected to be more than 4 percentage points for the Tier 1 capital ratio and total capital ratio. Liquidity ratios are significantly above regulatory requirements, announced the bank.
mBank is one of the leading universal commercial banks in Poland. The strategic shareholder of mBank is the German Commerzbank. The bank has been listed on the WSE since 1992; it is part of the WIG20 index. The bank’s total assets amounted to PLN 226.98 billion at the end of 2023.
Source: mBank and ISBnews
