Reuters Poll: Commerzbank's mBank seen returning to profit in Q3

Mbank SA

30/10/2024 08:01

* 
      mBank results due Oct 31
    

        * 
      Lender's net profit seen at 476 mln zlotys, supported by lower costs and
higher
net interest income, analysts say
    

  
       GDANSK, Oct 30 (Reuters) - Commerzbank's  CBKG.DE  Polish unit  MBK.WA 
is expected to post a third quarter net profit of 476 million zlotys ($118.7
million) due to lower costs of legal risk related to foreign currency loans and
higher net interest income, a Reuters poll showed on Wednesday.
    The bank reported that legal risk costs associated with foreign currency
loans amounted to 953 million zlotys for the period, down from 1.08 billion
zlotys in the same period of 2023. It reported a loss of 83 million zlotys over
that period.
    After three quarters, mBank's net profit could reach 1.16 billion zlotys,
analysts forecast.
    
                          THIRD QUARTER OF 2024
         (Figures in millions of zlotys unless stated otherwise)
             Net Profit    Net Interest Income      Net Fee Income
   Median       510                2458                  495
  Average       476                2498                  495
   Lowest       350                2442                  491
   Higest       518                2574                  501
   No. of        5                  5                     5
 forecasts                                         
  Q3 2023       -83                2280                  483
  Q2 2024       422                2160                  491
 Forecasts provided by: DM PKO BP, DM BOS, DM Millennium, Erste Group, Trigon DM


($1 = 4.0098 zlotys)

 (Reporting by Rafal W. Nowak
Editing by Tomasz Janowski)
 ((RafalWojciech.Nowak@thomsonreuters.com; +48 58 769 66 63;))