mBank SA (FRA:BRU)

€ 122.1 0.4 (0.33%) Market Cap: 5.38 Bil Enterprise Value: 1.73 Bil PE Ratio: 19.20 PB Ratio: 1.55 GF Score: 75/100

Q4 2019 mBank SA Earnings Call Transcript

Feb 06, 2020 / 09:00AM GMT

Release Date Price: €85.45 (+0.06%)

Transcript

Joanna Filipkowska

mBank S.A. - Deputy Head of IR Equity Investors & Analysts

[Interpreted] Good morning and welcome to this conference that will present the results of 2019 in mBank Group. The results will be delivered by CEO, Cezary Stypulkowski; CFO, Andreas B?ger. And then we'll have a presentation of the macroeconomics from our Chief Economist, Ernest Pytlarczyk.

Cezary Stypulkowski

mBank S.A. - President of the Management Board & CEO

[Interpreted] Good morning. This will be a brief overview, and then we'll take your questions.

Operational figures. This was a fabulous year in terms of the bank's activities. All that we control went well, all that we couldn't went so-so. The net interest income, 14.5% up, with an improved net interest margin, partly due to lower cost of financing. But in lending, our changing loan mix also impacts the results. The NFC went down somewhat year-on-year. But well, that was due to changes in the recognition of insurance fees. These lines, the fees and commissions lines that are active have been performing

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