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

Q2 2020 mBank SA Earnings Call Transcript

Jul 30, 2020 / 10:00AM GMT

Release Date Price: €43.04 (-5.94%)

Transcript

Joanna Filipkowska

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

Good morning, and welcome to this conference, which will summarize the results of MBank Group in Q2 2020. Once again, we are meeting online, but I think that's something we are all getting used to.

We have today Cezary Stypulkowski, CEO; Andreas BÃ¶ger, CFO; and Marcin Mazurek, Chief Economist. Over to Mr. Stypulkowski.

Cezary Stypulkowski

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

Good morning. As you all know, these are not easy times. They are rather demanding, as you say, euphemistically, interesting times perhaps. And it's no more good old times. That's something new. Anyway, speaking to the point, the conditions are rather mixed. On the one hand side, our quarterly results are looking quite good, as a result of some milestones reached in March, April and May, and the impact on different areas of the bank. The name of the game, of course, is our net interest income. Year-on-year, NII has increased. However, we realized that the [early] is down. The

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