Earnings Poll: Poland's mBank seen sliding to a net loss in Q2

Safi Silver

01/08/2023 13:57

* 
      mBank Q2 results due Aug 2
    

        * 
      Lender's net loss seen at 26 mln zlotys
    

  
       GDANSK, Aug 1 (Reuters - Polish lender mBank  MBK.WA  is
expected to post a second-quarter net loss of 26 million zlotys
($6.4 million), mainly due to provisions related to foreign
exchange mortgages and higher personnel costs, a Reuters poll
showed on Monday.
    Analysts from six banks and brokerages on average estimated
the Polish unit of Germany's Commerzbank  CBKG.DE  made a net
profit of 117 million zlotys in the first half of the year,
weighed down by an 1.51 billion zloty provision for legal costs
linked to foreign exchange mortgage loans.
    The following table summarises forecasts for mBank results
(figures in millions of zlotys unless stated otherwise):
    
    SECOND QUARTER OF 2023

================================================================
               Net Profit        Net Interest       Net Fee  
                                    Income          Income
================================================================
  Median           -10              2,182            495        
  Average          -26              2,187            507        
  Lowest           -94              2,088            490        
  Highest           18              2,322            561        
 No. of f'casts     6                6                6         
 
  Q2 2023          230              1,688            555        
  Q1 2022          143              2,092            501        
    
Forecasts provided by: Erste Group, DM Millennium, DM Pekao, DM
BOS, Trigon DM, and BM Santander



($1 = 4.0406 zlotys)

 (Reporting by Mateusz Rabiega; 
Editing by Mark Potter)
 ((Mateusz.Rabiega@thomsonreuters.com; +48 58 769 67 57;))