mBank Group Posts Record Profit of PLN 3.098 Billion in 9 Months
Key Facts
mBank Group reported net profit of PLN 3.098 billion in the first nine months of 2026, up 23.8% year on year, according to the bank’s statement. Third-quarter net profit was PLN 1.085 billion, the highest quarterly profit in the bank’s history. The result was higher than second-quarter profit of PLN 1.06 billion, which the bank described at the time as a record. But third-quarter profit was still 2% below analysts’ average expectations, according to a report published by Investing.com and attributed to Reuters. The bank’s shares rose 2.5% after the results were announced on October 28, 2026, according to the same report.
The group’s revenue reached PLN 9.8 billion in the first nine months, a record, according to the bank. mBank attributed revenue growth to higher business volumes, an improved net interest margin, fee and commission income, and operating efficiency. The net interest margin rose to 3.57% in the third quarter, compared with 3.47% in the previous quarter. Chief Financial Officer Pascal Rohland said the bank offset the impact of interest rate cuts through higher business volumes and fee and commission income. Record earnings were therefore achieved during a period of rate cuts, as increased activity, an improved margin and non-interest income combined to support the group’s performance.
The gross loan book reached PLN 164.4 billion at the end of the third quarter, up 17.7% year on year and 6.5% from the end of June, according to the bank’s disclosure. Retail customer loans rose 19% year on year to PLN 91.5 billion. From January to September, the bank provided PLN 16.6 billion in mortgage financing, making it the second-largest lender by new lending volume, according to mBank. Its share of household loans was 8.7%, while its share of the mortgage market was 9.7%. In corporate lending, the bank’s market share reached a record 8.9% after the first nine months of the year.
The deposit base expanded alongside lending, rising 19% year on year to PLN 254.7 billion at the end of the third quarter, according to the bank. Retail deposits stood at PLN 183.1 billion, while corporate deposits reached PLN 68.6 billion. The CFO said the bank had strengthened its capital position, enabling it to finance customers and support future growth. The Tier 1 capital ratio was 13.8%, while the total capital ratio reached 15.3% at the end of September. The bank also issued EUR 250 million of additional Tier 1 capital instruments in September.
Asset-quality indicators improved during the period, with the non-performing loan ratio falling to 2.9% at the end of the third quarter from 3.4% a year earlier. The cost of risk was 0.46% in the first nine months, below the approximately 0.8% level targeted in the bank’s strategy. By contrast, legal costs related to foreign currency risk in mortgage loans were PLN 78 million in the third quarter, compared with PLN 124 million in the second quarter and PLN 455 million in the third quarter of 2025. The quarterly figure was in line with a profit warning issued by the bank on October 6, according to the Investing.com report attributed to Reuters. Other consumer protection costs totaled PLN 112 million in the third quarter, including PLN 65 million for proceedings related to adjustment clauses, PLN 33 million for free-loan sanctions and PLN 14 million for unauthorized transactions.
Return on tangible equity was 21.3% after nine months of 2026, compared with a strategic target of more than 22% over the strategy horizon, according to the bank. mBank is targeting a market share of at least 10% in its main business areas by 2030. Rohland said profitable growth, efficiency and strong capital were pillars of sustainable shareholder value creation, adding that stronger capital increases the bank’s capacity to finance customers and support growth. These indicators offer a view of performance against the bank’s stated targets, without changing its market-share goal for the coming years. mBank set February 4, 2027, for its fourth-quarter 2026 report and February 27, 2027, for the release of its 2026 annual report.