Current Report 

Drafted on:

01.03.2019

Current report No

12/2019

Abbreviated issuer’s name

mBank

Contents: 

In connection to the current report no. 9 of 27 February 2019, the Management Board of mBank S.A. (“Bank”) announces that on 1 March 2019 the Supervisory Board of the Bank adopted a resolution regarding the motion of the Management Board on providing the Ordinary General Meeting with motions regarding division of the 2018 profit.

In the opinion of the Supervisory Board the financial results generated by the Bank and the solid capital position, being strong enough to meet regulatory capital requirements also under stressed macroeconomic conditions, what was confirmed by stress tests performed in 2018 according to EBA scenarios, justify payment of dividend from the net profit earned by the Bank in 2018.

Notwithstanding the above, taking into account the recommendation of the Polish Financial Supervision Authority of 25 February 2019 regarding retention of the whole 2018 net profit, which is at least a quasi-administrative act in the opinion of the Supervisory Board, and in order to avoid subjecting the Bank to potential penalties associated with non-compliance with the recommendation of the Polish Financial Supervision Authority, the Supervisory Board approves and recommends to the Ordinary General Meeting of Shareholders of mBank S.A. the division of profit for 2018, as per the motion of the Management Board which proposed that:

The net profit earned by mBank S.A. in 2018, amounting to PLN 1,317,484,333.94 shall be allocated: in the amount of PLN 248,157,618.16 to the losses from previous years.

The remaining part of profit in the amount of PLN 1,069,326,715.78 is left undivided.

President of the Management Board

Cezary Stypułkowski 01.03.2019