mBank SA (WAR:MBK)

Full Year 2024 mBank SA Earnings Call Transcript

Feb 6, 2025 / 10:59 AM GMT

Release Date Price: zł654.4 (+6.72%)

Transcript

Key Points

Positve

mBank SA (FRA:BRU) achieved the highest net profit in its history, reaching $2.2 billion in 2024.
The company significantly improved its capital position, enhancing its readiness for future growth.
Mortgage loan sales increased by more than 150% compared to 2023, reaching a record high volume.
The bank's total revenues rose by 11% to 12 billion Polish zloty, marking the highest level in its history.
mBank SA (FRA:BRU) successfully reduced the risk related to its CHF mortgage portfolio, with a significant decrease in new lawsuits and an increase in settlements.

Negative

Operating costs increased by 10% year on year, driven by wage increases and higher spending on IT, consulting, and marketing.
The cost of risk, although improved, still presents a challenge with a strategic midterm guidance of 80 basis points.
Legal risks related to FX mortgage loans resulted in a burden of 4.3 billion Polish zloty.
The bank expects further regulatory RWA inflation in 2025, which could impact its capital ratios.
No dividend will be paid out from the profit ending 2025, as funds are allocated for further loan expansion.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

MBK.WA - mBank SA
Full Year 2024 mBank SA Earnings Call
Feb 06, 2025 / NTS GMT

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Presentation
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Unidentified_1 [1]
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Good afternoon. Ladies and gentlemen, welcome to our conference where we will present the results of Mbank Group in 2024. The speakers today are Mr Cesarek Koic, Chief Executive Officer and Mr Pascal Rland, Chief Financial Officer, also Mr Marek RF, Chief Risk Officer and Mr Arkady Brosky from our macro team will be available for the Q&A session a sudden the floor is yours.

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Unidentified_2 [2]
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Thank you very much, Sasha. Good afternoon, ladies and gentlemen, welcome to our conference call for the Q4 financial results in today's presentation. I will like I will walk you

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