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Poland's mBank 2017 net profit may drop to around PLN 1 bln - CEO
February 8, 2017 / 10:54 AM / 7 months ago

Poland's mBank 2017 net profit may drop to around PLN 1 bln - CEO

WARSAW, Feb 8 (Reuters) - Net profit at Polish lender mBank , a unit Germany’s Commerzbank, may fall to around 1 billion zlotys ($246.73 million) this year from 1.2 billion zlotys in 2016 on the back of a bank tax, mBank’s CEO said on Wednesday.

“Taking into account a higher bank tax, changes regarding bank guarantee fund, I would expect profit to be slightly lower. The one billion (PLN) is within reach,” Cezary Stypulkowski told a news conference.

Earlier on Wednesday mBank reported smaller than expected drop in its fourth-quarter net profit. ($1 = 4.0530 zlotys) (Reporting by Marcin Goclowski; Writing by Agnieszka Barteczko; Editing by Lidia Kelly)

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