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Commerzbank CEO Says We Want To Sell Mbank But Not At Any Price
Commerzbank CFO Says We Do Not Exclude Any Single Area For Possible Cost Cuts
mBank Q4 Net Profit At 116.3 Mln Zlotys, Above Expectations
mBank SA, previously BRE Bank SA, is a Poland-based commercial bank. Its services are divided in four divisions: Corporate banking, including domestic and foreign transactions, payment cards, financial risk management, investment of excess cash and other services, financial management, trade finance, financial consulting and other services for small and medium enterprises as well as for corporate and institutional customers; Private banking, offering comprehensive management of assets, both financial and non-financial, loans, payment cards and concierge; Retail banking and Financial services, including offer for corporate clients and provision of such services as leasing, factoring, wealth management and insurance, among others.
ul. Senatorska 18, Skr. Poczt. 728
Chairman of the Supervisory Board
Chairman of the Management Board, Chief Executive Officer
Vice Chairman of the Management Board, Chief Financial Officer
Vice Chairman of the Management Board, Head of Operations and Information Technology
Vice Chairman of the Management Board, Chief Risk Officer
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It would be good if mBank is sold to an investor who is not already present in Poland, Poland's mBank <MBK.WA> CEO said on Thursday.
It's premature for Polish banks to provide provisions for legal risk related to Swiss franc mortgages, the CEO of mBank said on Thursday.
Austria's Erste Group has decided not to submit a nonbinding offer for Commerzbank's Polish unit mBank, a spokeswoman for the lender said on Thursday.
Poland's biggest bank PKO BP <PKO.WA> and a consortium of insurer PZU <PZU.WA> and its subsidiary Pekao <PEO.WA> are expected to file initial bids for Commerzbank's <CBKG.DE> Polish arm, mBank <MBK.WA> by mid-January, three sources told Reuters.
A major shareholder in state-run bank Pekao SA is supportive of a potential merger with smaller rival mBank saying such a deal could bring significant benefits including in technology.
A potential merger beween Poland's No. 2 lender by assets Pekao SA and its smaller rival mBank would bring synergies, said Pawel Borys, CEO at the PFR fund, which has a 12.8% stake in Pekao.
Poland's second largest lender Bank Pekao blamed regulatory costs and low interest rates for a cut to its key profit target on Tuesday, and confirmed it was looking closely at up-for-sale rival mBank.
Taking over Commerzbank's unit mBank may be risky for a company already present in Poland, the chief executive at Poland's biggest bank PKO BP, Zbigniew Jagiello, said on Monday.
Citi's polish unit Bank Handlowy <BHW.WA> is not interested in buying mBank <MBK.WA>, the Polish unit of Germany's Commerzbank <CBKG.DE>, its chief executive said on Thursday.
PZU <PZU.WA> will analyse the sale of mBank <MBK.WA> by Commerzbank <CBKG.DE> to see if there are any potential synergies with banks it owns, the Polish insurer's CEO said on Thursday.
Polish state-run bank Pekao focuses on organic growth but is analysing Commerzbank's planned sale of its Polish unit mBank , Pekao Chief Executive Michal Krupinski said on Wednesday.
Commerzbank's Polish unit mBank is facing more lawsuits related to FX loans following the EU top court ruling earlier in October, the lender Chief Executive Cezary Stypulkowski said on Thursday.
Erste Group <ERST.VI> could be interested in buying Commerzbank's <CBKG.DE> Polish unit mBank <MBK.WA>, but only without its Swiss franc portfolio, Erste's deputy chief executive said on Wednesday.
Santander's Polish unit <SPL1.WA> needs to evaluate whether the sale of mBank <MBK.WA> is an opportunity for it to make an acquisition or not, its chief executive said on Wednesday.
Poland's biggest bank, state-run PKO BP <PKO.WA>, will consider a bid for Commerzbank's <CBKG.DE> Polish unit mBank <MBK.WA> if it is officially put up for sale, its Chief Executive Zbigniew Jagiello said on Monday.
Poland's Finance Minister Jerzy Kwiecinski said on Friday it would be good if state-run financial institutions could look into a possible takeover of mBank <MBK.WA>, the country's fourth largest lender by assets.
Commerzbank <CBKG.DE> is sounding out potential buyers of its stake in Polish lender mBank <MBK.WA> ahead of a formal sale process which is expected to launch in coming months, people familiar with the matter said.
JPMorgan has been hired to advise Poland's mBank, which is being sold by Commerzbank, with the German bank being advised by Goldman Sachs, two sources said.
Poland's fourth-largest lender by assets, mBank, on Thursday reported an 88 percent rise in first-quarter net profit.
Poland's fourth biggest lender mBank booked 117 million zlotys ($33.84 million) in charges for a bank guarantee fund and bank restructuring fund in the first quarter of 2018, the bank said on Wednesday.
Quote and financial data from Refinitiv. Fund performance data provided by Lipper. All quotes delayed a minimum of 15 minutes.