23.06.2023
Contents:

1. REPORT

3. INFORMATION ABOUT THE ENTITY

4. SIGNATURE OF PERSONS REPRESENTING THE COMPANY

POLISH FINANCIAL SUPERVISION AUTHORITY
REPORT No 50 / 2023
Date of issue: 2023-06-23
Short name of the issuer
mBank S.A.
Subject
Costs of legal risk related to foreign currency loans
Official market - legal basis
Art. 17 ust. 1 MAR - informacje poufne.
Contents of the report:
Costs of legal risk related to foreign currency loans The Management Board of mBank S.A. ("Bank") informs that as of June 23, 2023, costs of legal risk related to foreign currency loans in CHF estimated for Q2 2023, amount to PLN 1,512.9 million. As a result, the total value of provisions created for legal risk related to foreign currency mortgages as of June 23, 2023, amounts to PLN 7.52 billion. These costs result mainly from inclusion of the impact of the ruling of the Court of Justice of the European Union in case C-520/21 on the future jurisprudence of Polish courts in cases involving foreign currency loans in CHF and the costs of the settlement program as well as the update of other parameters utilized in the model. At the same time, the Bank informs that in Q2 2023 the positive results in the core business continued. Assuming no other negative unexpected events, the net result achieved by mBank Group in Q2 2023 is expected to be close to zero and the gross result is expected to be positive. As a consequence, the gross and net result achieved by mBank Group in H1 2023 is expected to be positive. The mBank Group Tier 1 Capital Ratio and the Total Capital Ratio for Q2 2023 are expected to be higher than the levels reported for Q1 2023. The current capital requirements for mBank Group are 10.0% for the Tier 1 Capital Ratio and 12.3% for the Total Capital Ratio. The surpluses above the capital requirements for Q2 2023 are expected to be higher than in Q1 2023. The liquidity ratios significantly exceed the regulatory requirements.

INFORMATION ABOUT THE ENTITY    >>>

SIGNATURE OF PERSONS REPRESENTING THE COMPANY
Date Name Position / Function Signature
2023-06-23 Cezary Stypułkowski Prezes Zarządu