Commerzbank's mBank seen returning to profit in Q3
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 forecasts | 5 | 5 | 5 |
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
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
