mBank shares rise after beating market expectations

Mbank SA

01/08/2024 09:19

** Shares of mBank  MBK.WA  rise as much as 2.1% after
reporting better-than-anticipated Q2 results
    ** Commerzbank's  CBKG.DE  Polish unit reported Q2 net
profit of 421.9 million zlotys ($106.04 million) vs loss of 15.5
million zlotys a year ago, and surpassing expectations of 348
million zlotys seen in a Reuters poll
    ** "The new credit loan sales positively stand out," said
Trigon's Maciej Marcinowski, underlining cash loan sales which
rose 40% year-on-year 
    ** Marcinowski also stressed that the bank's mortgage sales
fell only 4% quarter-on-quarter, showing resilience despite the
end of the government's "2% Safe Mortgage" programme, which
boosted demand for loans in Polish banks in previous quarters
    ** As of 0756 GMT, shares in mBank were up 1.5%,
outperforming the blue-chip WIG20  .WIG20  index
    



($1 = 3.9786 zlotys)

 (Reporting by Tymon Miller and Rafal Wojciech Nowak)
 ((Tymon.miller@thomsonreuters.com; +48 58 769 66 78))