Current Report 

Drafted on:

10.09.2021

Current report No

37/2021

Legal basis: 

§ 17 Regulation (EU) No 596/2014 Of The European Parliament And Of The Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC

Contents: 

The Management Board of mBank S.A. (“Bank") informs that on 9 September 2021 Fitch Ratings (‘Fitch’) affirmed Long term Issuer Default Rating at 'BBB-‘ and Viability Rating of the Bank at ‘bbb-‘ and removed these ratings from Negative Rating Watch. The outlook of Long Term Issuer Default Rating is negative.

The removal of the Rating Watch Negative reflects Fitch’s view that the short-term downside risks to the Bank’s ratings have reduced. This is due to a significant delay of the Supreme Court ruling that could be potentially negative for the exposed banks, a stronger than expected economic recovery and lower than expected pressure on asset quality stemming from the pandemic. Litigation risk and uncertainty pertaining to the Supreme Court resolution underpins the decision to maintain negative outlook.

Vice-director for investment supervision, Compliance Department

Maciej Mołdawa 10.09.2021