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

Q3 2020 mBank SA Earnings Call Transcript

Oct 29, 2020 / 11:00AM GMT

Release Date Price: €26.3 (-9.93%)

Transcript

Operator

[Interpreted] Good morning, and welcome to this conference presenting the results of Q3 2020 of mBank Group.

Today, as usual, we have CEO, Cezary Stypulkowski; CFO, Andreas BÃ¶ger; and Marcin Mazurek, our Chief Economist.

Over to Cezary Stypulkowski.

Cezary Stypulkowski

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

[Interpreted] Good afternoon. Q3 seems to be a time of stability after spring. It seemed so until recently. In terms of the results, as expected, our revenue was solid. Although NII was lower than before under the mark of PLN 1 billion per quarter, our net fee and commission income is quite good and growing steadily. Under the circumstances, the bank maintains a strong bond cost regime. Our cost income ratio, which is an important indicator for the bank, has remained stable despite all the weaknesses, which we have seen in the top lines.

Our net profit was around PLN 100 million, perhaps nothing to boast about, but that is partly due to our policy of setting up provisions against the legal risk of historical

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