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mBank

mBank's net interest margin rose 189% yoy to 4.17% in 3Q2023

By Helgi Library - November 1, 2023

mBank's net interest margin amounted to 4.17% in the third quarter of 2023, up from 4.09% when compared to the previous quarter....

mBank's net interest margin rose 189% yoy to 4.17% in 3Q2023

By Helgi Library - November 1, 2023

mBank's net interest margin amounted to 4.17% in the third quarter of 2023, up from 4.09% when compared to the previous quarter....

mBank's customer deposits rose 9.66% yoy to PLN 176,662 mil in 2Q2023

By Helgi Library - August 8, 2023

mBank's customer deposits reached PLN 176,662 mil in 2023-06-30, down 2.35% compared to the previous year. Polish banking secto...

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mBank (formerly known as BRE Bank) is a Poland-based commercial bank. The Bank’s customer base includes 5.6 mil retail customers and 25 thousand corporations. The bank was established in 1986 as a small specialised bank, but the bank’s business profile changed substantially in late 2000 when BRE Bank launched its retail banking arm: mBank, the first Internet bank in Poland for mass clients and micro-enterprises. The domestic success of mBank meant that in 2007, the retail banking arm expanded abroad: mBank outlets were set up in the Czech Republic and Slovakia. Apart from offering the traditional banking services, mBank offers a wide range of other services such as leasing, factoring, brokerage and insurance

Finance

mBank has been growing its revenues and asset by 6.78% and 7.47% a year on average in the last 10 years. Its loans and deposits have grown by 6.35% and 12.0% a year during that time and loans to deposits ratio reached 69.0% at the end of 2022. The company achieved an average return on equity of 6.09% in the last decade with net profit growing % a year on average. In terms of operating efficiency, its cost to income ratio reached 42.2% in 2022, compared to 41.1% average in the last decade.

Equity represented 6.06% of total assets or 10.6% of loans at the end of 2022. mBank's non-performing loans were 3.97% of total loans while provisions covered some 66.3% of NPLs at the end of 2022.

Valuation

mBank stock traded at per share at the end of 2022 resulting in a market capitalization of . Over the previous three years, stock price rose by 0% or 0% a year on average. That’s compared to an average ROE of -2.47% the bank generated for its shareholders. This closing price put stock at a 12-month trailing price to earnings (PE) of -17.9x and price to book value (PBV) of 0.988x in 2022.

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mBank

mBank's net interest margin rose 189% yoy to 4.17% in 3Q2023

mBank's net interest margin rose 189% yoy to 4.17% in 3Q2023

mBank's customer deposits rose 9.66% yoy to PLN 176,662 mil in 2Q2023

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mBank's customer deposits rose 9.66% yoy to PLN 176,662 mil in 2Q2023

mBank's total revenues rose 24.7% yoy to PLN 2,695 mil in 2Q2023

mBank's total revenues rose 24.7% yoy to PLN 2,695 mil in 2Q2023

mBank's mortgage loans fell 9.89% yoy to PLN 44,478 mil in 3Q2023

mBank's mortgage loans fell 9.89% yoy to PLN 44,478 mil in 3Q2023

mBank's retail deposits rose 14.6% yoy to PLN 125,925 mil in 2Q2023

mBank's retail deposits rose 14.6% yoy to PLN 125,925 mil in 2Q2023

mBank's price/earnings (P/E) fell 5,333% yoy to -50.6 in 3Q2023

mBank's price/earnings (P/E) fell 5,333% yoy to -50.6 in 3Q2023

mBank's employees rose 3.29% yoy to 7,218 in 3Q2023

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