mBank SA
mBank SA
03/28/2024 | Press release | Distributed by Public on 03/28/2024 09:48
Costs of legal risk related to foreign currency loans
Contents:
3. INFORMATION ABOUT THE ENTITY
4. SIGNATURE OF PERSONS REPRESENTING THE COMPANY
| POLISH FINANCIAL SUPERVISION AUTHORITY | |||||||||||
| REPORT No | 17 | / | 2024 | ||||||||
| Date of issue: | 2024-03-28 | ||||||||||
| Short name of the issuer | |||||||||||
| mBank S.A. | |||||||||||
| Subject | |||||||||||
| Costs of legal risk related to foreign currency loans | |||||||||||
| Official market - legal basis | |||||||||||
| Art. 17 ust. 1 MAR - informacje poufne. | |||||||||||
| Contents of the report: | |||||||||||
| Costs of legal risk related to foreign currency loans The Management Board of mBank S.A. ("Bank") informs that in connection with the decision taken on March 28, 2024 by the Bank, the costs of legal risk related to loans indexed to foreign currencies recognized in Q1 2024, amounted to PLN 1058.0 million. The costs are mainly due to updating model parameters for the future expected costs of execution of court judgments, in particular updating estimates of statutory interest costs in relation to the pending court cases. The Bank informs that the estimated preliminary net result for Q1 2024 will be positive. At the same time, the Bank informs that in Q1 2024, positive results in the core business continued and total revenues were at similar level to Q4 2023. The mBank Group Tier 1 Capital Ratio and the Total Capital Ratio for Q1 2024 are expected to be considerably higher than the required levels which for mBank Group amount to 9.1% for the Tier 1 capital ratio and 11.1% for the Total Capital Ratio. It is expected that surpluses above the capital requirements for Q1 2024 will exceed 4.5 p.p. over Tier 1 Capital Ratio and Total Capital Ratio. The liquidity ratios significantly exceed the regulatory requirements. |
INFORMATION ABOUT THE ENTITY >>>
| mBank Spółka Akcyjna | |||||||
| (fullname of the issuer) | |||||||
| mBank S.A. | Banki (ban) | ||||||
| (short name of the issuer) | (sector according to clasification of the WSE in Warsow) | ||||||
| 00-850 | WARSZAWA | ||||||
| (post code) | (city) | ||||||
| Prosta | 18 | ||||||
| (street) | (number) | ||||||
| 829-00-00 | 0000025237 | ||||||
| (phone number) | (fax) | ||||||
| www.mbank.pl | |||||||
| (e-mail) | (website) | ||||||
| 526-021-50-88 | 001254524 | ||||||
| (NIP) | (REGON) |
| SIGNATURE OF PERSONS REPRESENTING THE COMPANY | |||||
| Date | Name | Position / Function | Signature | ||
| 2024-03-28 | Cezary Stypułkowski | Prezes Zarządu |