July 27, 2017 / 9:35 AM / 2 years ago

BRIEF-Poland's mBank does not rule out takeovers - CEO

July 27 (Reuters) - Mbank SA

* Poland’s mBank CEO Cezary Stypulkowski said on Thursday that the lender’s strategy does not rule out takeovers but is not desperate to do any.

* The CEO also said mBank, which is a Polish unit of Germany’s Commerzbank, is able to spend 1 billion zlotys ($275.04 million) on potential mergers and acquisitions, excluding a share issue or mother company backing

* Stypulkowski said he would not comment on the ongoing sale of Deutsche Bank AG Polish assets

* Market sources told Reuters in May that Deutsche Bank AG started the sale of parts of its Polish banking operations and they listed Commerzbank as one of potential bidders.

* Stypulkowski also said that mBank aims to improve Return on Equity (ROE) to 10 percent in three years from above 8 percent now Further company coverage: ($1 = 3.6359 zlotys) (Reporting by Marcin Goclowski; writing by Agnieszka Barteczko; Editing by Lidia Kelly)

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