Increase in the provision for legal risk related to the mortgage and housing loan portfolio in foreign currency
Increase in the provision for legal risk related to the mortgage and housing loan portfolio in foreign currency
| Current Report | | |
| Drafted on: | 21.01.2022 |
| Current report No | 2/2022 |
| 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 in connection with the decision taken on January 21st, 2022 by the Bank, the costs of legal risk related to foreign currency mortgage loans in CHF recognized in Q4 2021, amounted to PLN 2,006 million, out of which PLN 1,010 million may be used for potential settlements with CHF loans holders. The Bank initially estimates, that the consolidated result of mBank S.A. Group in 2021 is negative and the net loss amounts to approximately PLN 1.2 billion. | Despite the negative result, capital and liquidity ratios remain materially above regulatory requirements.| Selected non-audited financial data for the mBank S.A. Group for Q4 2021 will be presented in a current report on 8 February 2022.| |
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SIGNATURE OF THE PERSONS REPRESENTING THE COMPANY
| Chief Executive Officer | Cezary Stypułkowski 21.01.2022 |
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