mBank (MBK) investor relations material

Executive summary

• Achieved record net profit in Q2 2026, driven by robust business expansion, improved efficiency, and digital innovation, with strong growth in loans, deposits, and market share across retail and corporate segments.

• Total assets exceeded PLN 300 billion and client base surpassed 6 million.

• Significant reduction in legal risk costs related to FX mortgage loans, supporting profitability.

• Net profit for H1 2026 reached PLN 2,013 million, up from PLN 1,665 million year-over-year, with basic EPS at PLN 47.33 versus PLN 39.18.

Financial highlights

• Net profit reached PLN 1.1 billion in Q2, the highest quarterly result in history, with total income for Q2 at PLN 3.1 billion and net interest income up 3% quarter-on-quarter.

• Gross loans grew 13% year-on-year to PLN 154 billion; deposits rose 21% year-on-year to PLN 248 billion.

• Cost-to-income ratio at 30% reported and below 33% normalized, among the best in the industry.

• Return on tangible equity (ROTCE) close to 22%; ROE around 18%.

• Cost of risk remained low at 37 basis points in Q2.

Outlook and guidance

• 2026 revenues expected to exceed 2025 levels, driven by balance sheet and fee income growth, despite lower interest rates.

• Net interest margin expected to remain stable around 3.5%.

• Cost-to-income ratio to stay well below 35% strategic target.

• Full-year cost of risk guidance revised down to around 55 basis points.

• Legal risk costs anticipated to decline further as CHF portfolio shrinks.