05.08.2022
Contents:

1. REPORT

3. INFORMATION ABOUT THE ENTITY

4. SIGNATURE OF PERSONS REPRESENTING THE COMPANY

POLISH FINANCIAL SUPERVISION AUTHORITY
REPORT No 33 / 2022
Date of issue:
Short name of the issuer
mBank
Subject
Ratings of mBank assigned by Fitch placed on Negative Watch
Official market - legal basis
Art. 17 ust. 1 MAR - informacje poufne.
Contents of the report:
Ratings of mBank assigned by Fitch placed on Negative Watch The Management Board of mBank S.A. (“Bank") informs that on 5 August 2022, Fitch Ratings (“Fitch”) placed mBank’s ratings, i.e. the Viability Rating 'bbb-' and the Issuer Default Ratings, including long-term IDR 'BBB-', on Rating Watch Negative (RWN). The reason for the above decision is the downgrade of the operating environment score for Poland to 'bbb' from 'bbb+' mainly due to the introduction of the statutory loan holidays on local currency mortgages. In the opinion of Fitch, the hitherto profitable business models of banks are under pressure due to the level of intervention by the state combined with the expected slowdown of the economy. Fitch will resolve the RWN placed on the Bank’s ratings following a full review including an assessment of the impact of the revised operating environment score and the direct impact of the credit holiday on key financial metrics of the Bank.

INFORMATION ABOUT THE ENTITY    >>>

SIGNATURE OF PERSONS REPRESENTING THE COMPANY
Date Name Position / Function Signature
2022-08-05 Maciej Mołdawa Wicedyrektor Departamentu Compliance