mBank SA (FRA:BRU)

€ 127.75 0.45 (0.35%) Market Cap: 5.47 Bil Enterprise Value: 1.78 Bil PE Ratio: 18.87 PB Ratio: 1.52 GF Score: 66/100

Q2 2019 mBank SA Earnings Call Transcript

Aug 01, 2019 / 07:30AM GMT

Release Date Price: €77.75 (-6.33%)

Transcript

Joanna Filipkowska

mBank S.A. - Deputy Head of IR Equity Investors & Analysts

[Interpreted] Good morning. Thank you for being here today in big numbers, and welcome to this conference, which will summarize the Q2 results of the mBank Group. Today, we have, Cezary Stypulkowski, CEO; Andreas BÃ¶ger, CFO; and Ernest Pytlarczyk, Chief Economist. Over to Mr. Stypulkowski.

Cezary Stypulkowski

mBank S.A. - President of the Management Board & CEO

[Interpreted] Good morning. And welcome to this conference. Some of the key messages we'd like to share include the following. The bank has been growing relatively fast both as measured by balance sheet items and P&L items, which increased significantly year-on-year. I should say that the key driver of the growth was the net interest income, which is now approaching PLN 1 billion per quarter. What is unsatisfactory is the net fee commission income. And for many reasons, which we may address in the Q&As. NFC went down year-on-year partly due to the fact that the bank has changed its profile, when it comes to

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