Mbank Sa · GPW:MBK
Mbank Sa — Q3 2026 Earnings Presentation
61 slides from Mbank Sa's earnings presentation, Oct 28, 2026
Slide 1: Results of mBank Group Q3 2026
Results of mBank Group Q3 2026 Record performance, stronger market position Presentation for the market, 28.10.2026
Slide 2: Agenda
Agenda 01 Key financial and business highlights in 9M 2026 02 Overview of the results development in Q3 2026 03 Update on Poland’s macroeconomic situation and outlook 04 Appendix
Slide 3: Key financial and business highlights in 9M 2026
01 Key financial and business highlights in 9M 2026
Slide 4: Key highlights of mBank Group after 9M 2026: loans and deposits
Key highlights of mBank Group after 9M 2026 Dynamic expansion of credit portfolio accompanied by a surge of deposits ▪ Sector-beating credit growth Gross loans of mBank Group Deposit base of mBank Group translating into further gains of PLN billion PLN billion market shares ▪ Accelerated lending act
Slide 5: Key highlights after 9M 2026: record revenues
Key highlights of mBank Group after 9M 2026 Record revenues driven by highest-ever core income supporting leading efficiency ▪ Total revenues surpassed the Total revenues of mBank Group Normalized cost/income ratio previous year’s level, reaching an PLN million with linear BFG contribution all-time
Slide 6: Key highlights after 9M 2026: profit improvement
Key highlights of mBank Group after 9M 2026 Strong improvement of profit thanks to significant reduction of legal risk costs ▪ The best-ever net result and Net profit of mBank Group Return on tangible equity (ROTE) gross profit anchored in strong PLN million assuming dividend payout at 30% underlyin
Slide 7: Key highlights after 9M 2026: capital surpluses
Key highlights of mBank Group after 9M 2026 Comfortable surpluses over regulatory minima enabling unconstrained growth ▪ Advanced capital management Tier 1 capital ratio of mBank Group MRELTREA ratio of mBank Group toolkit applied, to support keeping vs. the requirement vs. the requirement safe buff
Slide 8: mBank Group continued improving its market position in Q3 2026
mBank Group continued improving its market position in Q3 2026 mBank Group’s market shares in strategic product categories in Poland HOUSEHOLDS HOUSEHOLDS HOUSEHOLDS total loans total deposits total mortgage loans 8.7% 9.7% 8.9% 8.8% 8.3% 8.7% 9.1% 8.6% 8.8% 8.1% 8.7% 8.0% 8.0% 8.5% 8.6% ∆ YoY ∆ YoY
Slide 9: Overview of the results development in Q3 2026
02 Overview of the results development in Q3 2026
Slide 10: Key highlights of mBank Group in Q3 2026
Key highlights of mBank Group in Q3 2026 Rapid growth of business Excellent financial results Adequate regulatory buffers volume in both segments and record profit and resilient balance sheet ▪ a dynamic increase of gross ▪ the highest quarterly net result ▪ comfortable capital surplus loans by 6.5%
Slide 11: Summary of financial results in Q3 2026: Profit and Loss Account
Summary of financial results in Q3 2026: Profit and Loss Account PLN million Q3 2025 Q2 2026 Q3 2026 ∆ QoQ ∆ YoY Net interest income 2,511 2,453 2,673 +9.0% +6.5% Net fee and commission income 580 569 594 +4.4% +2.4% Net trading and other income 87 105 -17 +/- +/- Total income 3,178 3,127 3,250 +3.9
Slide 12: Summary of financial results in Q3 2026: Balance Sheet
Summary of financial results in Q3 2026: Balance Sheet PLN million 30.09.2025 30.06.2026 30.09.2026 ∆ QoQ ∆ YoY Total assets 261,538 304,402 307,378 +1.0% +17.5% Gross loans to customers 139,746 154,340 164,436 +6.5% +17.7% Individual client loans 76,860 84,721 91,453 +7.9% +19.0% Corporate client l
Slide 13: New lending business
Results of mBank Group in Q3 2026 – New lending business Record sales of mortgages, new consumer and corporate financing maintained momentum Sales of mortgage loans Sales of non-mortgage loans Sales of corporate loans 1 PLN million PLN million PLN million mBank PL mBank CZSK mBank PL mBank CZSK by s
Slide 14: Loans to customers
Results of mBank Group in Q3 2026 – Loans to customers Rapid growth of loan portfolio driven by acceleration of mortgage and corporate exposure Development of mBank Group’s gross loans Market shares in loans PLN million 30.09.2026, in Poland +17.7% ∆ QoQ ∆ YoY HOUSEHOLDS +6.5% total loans 164,436 8.
Slide 15: Customer deposits
Results of mBank Group in Q3 2026 – Customer deposits Strong expansion of deposit base fuelled by steady inflows to current and saving accounts Development of mBank Group’s deposits Market shares in deposits PLN million 30.09.2026, in Poland +19.0% ∆ QoQ ∆ YoY HOUSEHOLDS +2.5% total deposits 248,487
Slide 16: Total income and margin
Results of mBank Group in Q3 2026 – Total income and margin Record revenues thanks to all-time highs in both net interest and commission income mBank Group’s total income Net interest margin of mBank Group PLN million quarterly data reference rate in Poland: -200 bps in 10 months +0.7% from 5.75% ke
Slide 17: Total costs and efficiency
Results of mBank Group in Q3 2026 – Total costs and efficiency Tight cost control supporting best-in-class efficiency despite continued investments mBank Group’s operating costs Cost/Income ratio of mBank Group PLN million quarterly data +7.0% 37.9% +7.5% ∆ YoY ∆ QoQ ∆ YoY 34.6% +4.6% 32.7% 3,070 +1
Slide 18: Credit losses and cost of risk
Results of mBank Group in Q3 2026 – Credit losses and cost of risk Higher cost of risk due to a large single corporate default amid resilient retail portfolio mBank Group’s net impairment losses and fair value change on loans Cost of risk of mBank Group PLN million quarterly data 0% 0.77% ∆ YoY ∆ Qo
Slide 19: Loan portfolio quality
Results of mBank Group in Q3 2026 – Loan portfolio quality Good asset quality confirmed by risk metrics, NPL ratio supported by sale of impaired loans mBank Group’s impaired loans portfolio mBank Group’s NPL ratio PLN million NPL ratio 3.4% 3.4% 3.4% according to EBA +1.7% 3.1% definition has 2.9% r
Slide 20: Net result and profitability
Results of mBank Group in 9M 2026 – Net result and profitability Record financial performance confirmed by best net profit despite elevated fiscal burdens mBank Group’s net profit and main drivers of its development Profitability ratios of mBank Group PLN million quarterly data Decline of created le
Slide 21: Advanced capital management toolkit unlocking growth capacity
Advanced capital management toolkit unlocking growth capacity Inaugural issuance of Additional Tier 1 instruments denominated in EUR distribution by investor location distribution by investor type Format Additional Tier 1 capital bonds Issue size EUR 250 million 3% 2% 4% Settlement date 29.09.2026 4
Slide 22: Capital position
Results of mBank Group in Q3 2026 – Capital position Comfortable capital buffers over regulatory minima supported by profits and transactions mBank Group’s own funds and their components mBank Group’s capital ratios PLN million compared to regulatory requirement including new +5% pro-forma AT1 issua
Slide 23: Key take-aways after Q3 2026
Key take-aways after Q3 2026 We delivered strong growth of credit portfolio (+18% YoY) and deposit base (+19% YoY) in both retail and corporate client segments, resulting in an improvement of market shares excellent financial performance, with the highest net profit in history, driven by record tota
Slide 24: Outlook for mBank Group for 2026
Outlook for mBank Group for 2026 We expect Total revenues to be around 2% higher than reported for 2025 as strong balance sheet expansion and rising net fees outweigh margin pressure from lower interest rates The cost/income ratio to remain below 33%, better than the strategic target, supported by d
Slide 25: Update on Poland's macroeconomic situation and outlook
03 Update on Poland’s macroeconomic situation and outlook
Slide 26: Macroeconomic situation in Poland: GDP growth, inflation, rates
Macroeconomic situation in Poland: GDP growth, inflation, rates Consumption growth is likely to stay decent Unemployment rate (still) very low 20 12% 10 10% 0 8% -10 6% -20 4% -30 -40 2% Source: GUS Source: GUS -50 0% Jan.16 Jan.17 Jan.18 Jan.19 Jan.20 Jan.21 Jan.22 Jan.23 Jan.24 Jan.25 Jan.26 Jan.1
Slide 27: Macroeconomic situation in Poland: financial markets
Macroeconomic situation in Poland: financial markets Corporate loans and deposits (YoY, FX-adjusted) Household loans and deposits (YoY, FX-adjusted) 30% 14% 25% 12% 10% 20% 8% 15% 6% 10% 4% 5% 2% 0% 0% -2% -5% -4% Source: NBP Source: NBP -10% -6% 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 202
Slide 28: Macroeconomic forecasts and outlook for Poland
Macroeconomic forecasts and outlook for Poland Key economic indicators for Poland Main factors driving the performance in 2026 2023 2024 2025 2026F 2027F ▪ GDP growth in Poland is expected to reach 3.9% GDP growth (YoY) 0.2% 3.2% 3.8% 3.9% 3.0% in 2026 despite the adverse effects from the war Domest
Slide 29: Appendix
Appendix
Slide 30: Consolidated Profit and Loss Account – quarterly
Consolidated Profit and Loss Account – quarterly Quarterly results (PLN million) Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Net interest income 2,511 2,482 2,391 2,453 2,673 Net fee and commission income 580 543 576 569 593 Net trading and other income 87 34 127 105 -15 Total income 3,178 3,059 3,094 3
Slide 31: Consolidated Statement of Financial Position – quarterly
Consolidated Statement of Financial Position – quarterly Assets (PLN million) 30.09.2025 31.12.2025 31.03.2026 30.06.2026 30.09.2026 Cash and balances with Central Bank 21,973 40,481 23,537 18,277 26,247 Loans and advances to banks 20,541 13,193 22,983 21,718 17,548 Trading securities 2,570 3,498 2,
Slide 32: Financial ratios – quarterly and cumulatively
mBank Group’s financial ratios – quarterly and cumulatively Key financial ratios Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 quarterly 3.97% 3.74% 3.52% 3.47% 3.57% Net interest margin YtD 4.16% 4.05% 3.52% 3.49% 3.52% quarterly 29.2% 33.1% 37.9% 30.4% 29.1% Cost/income ratio YtD 30.4% 31.0% 37.9% 34.1%
Slide 33: Net interest income
Results of mBank Group in Q3 2026 – Net interest income Structure of mBank Group’s interest income Structure of mBank Group’s interest expense PLN million PLN million asset funding 5.8% 5.4% 5.0% 4.9% 5.1% yield 2.0% 1.8% 1.7% 1.6% 1.7% costs +4.6% +0.6% +8.4% +6.9% 3,815 1,142 3,646 3,564 3,520 1,1
Slide 34: Net fees and commissions
Results of mBank Group in Q3 2026 – Net fees and commissions Structure of mBank Group’s fee and commission income Structure of mBank Group’s fee and commission expense PLN million PLN million In Q3/25, the fee result included settlement with a payment card organisation of PLN 41.6 million +6.1% +12.
Slide 35: Legal risk of CHF portfolio
Results of mBank Group in Q3 2026 – Legal risk of CHF portfolio Settlements concluded by mBank New CHF-related court cases CHF loan contracts in court with CHF borrowers, cumulative number number of contracts entering the court number of pending cases proceedings, by quarter Classification to active
Slide 36: Legal risk of CHF portfolio
Results of mBank Group in Q3 2026 – Legal risk of CHF portfolio Value of CHF mortgage loans Decomposition of CHF loan contracts at mBank granted to natural persons, PLN million, net number of contracts, as of 30.06.2026 19,177 Share of CHF mortgages in total loan portfolio -96% declined from 23.6% i
Slide 37: Balance sheet analysis
Selected Financial Data – Balance sheet analysis Structure of mBank Group’s total assets Structure of mBank Group’s liabilities and equity PLN billion PLN billion 304.4 307.4 304.4 307.4 290.5 290.5 25.4 8% 280.3 26.1 33.9 11% 280.3 23.4 261.5 31.5 261.5 22.3 11.3 3.5 10.2 3.4 3% 21.4 11.6 11.5 1% 4
Slide 38: Structure of loans and deposits
Selected Financial Data – Structure of loans and deposits Structure of mBank Group’s gross loans, by client segment and industry Structure of mBank Group’s deposits 30.09.2026 30.09.2026 Financial activities 4.6% 0.1% Real estate 4.5% 0.5% Construction 4.0% 16.7% 9.4% Power and heating distribution
Slide 39: Funding profile
Selected Financial Data – Funding profile Structure of mBank Group’s funding Summary of mBank’s long-term funding instruments 30.09.2026 30.09.2026 (without covered bonds issued by mBank Hipoteczny) Outstanding Issue Maturity Currency Tenor Coupon Other value date date Subordinated liabilities 3.6%
Slide 40: Capital requirements and liquidity
Selected Financial Data – Capital requirements and liquidity Regulatory capital requirements for mBank Group 30.09.2026 Countercyclical Capital Buffer (CCyB), calculated as the weighted average of the CCyB rates that apply in the countries where the relevant credit exposures +2.36 pp are located. Th
Slide 41: Fulfilment of MREL requirements
Selected Financial Data – Fulfilment of MREL requirements Development of mBank Group’s MRELTREA ratio Development of mBank Group’s MRELTREA Subordinated ratio +1.92 +2.04 24.72% 25.88% 24.58% 22.93% 24.19% 22.99% 22.83% 24.33% 22.28% 20.77% 20.36% 18.73% 5.00% 5.00% 15.36% 13.73% 09/25 12/25 03/26 0
Slide 42: Additional information on selected loan portfolio aspects
Additional information on selected loan portfolio aspects Share of stage 2 in mBank Group’s gross loan portfolio Commercial Real Estate (CRE) portfolio at mBank loans and advances to customers valued at amortised cost development of balance sheet exposure, PLN million 17.9% +0.7% Share in mBank Grou
Slide 43: Customers are tech-savvy and widely use digital services
mBank’s customers are tech-savvy and widely use digital services Users of mobile application Retail clients Corporate account opening Corporate clients number of active users logging number of accounts opened by into every month, thousand corporate clients, by process type +527 +841 4,147 4,090 4,31
Slide 44: Retail Banking – client base and network
Retail Banking – client base and network Number of mBank’s retail clients (thousand) Well-designed functionalities for client convenience +249 fully remote account opening with e-ID or a selfie and agreement approved via a text message 5,850 5,896 5,969 6,021 6,099 Customer split by country: 1,172 1
Slide 45: Retail Banking – results, activity and transactionality
Retail Banking – results, activity and transactionality Total revenues of the segment Profit before income tax of the segment PLN million mBank PLN million CZSK -2% -6% Business -2% in Poland -5% 2,017 1,907 2,007 1,967 1,158 1,150 1,088 1,887 970 987 158 140 156 174 68 45 68 131 15 29 1,858 1,756 1
Slide 46: Retail Banking – business volumes
Retail Banking – business volumes Development of gross loans to retail banking clients Development of deposits from retail banking clients PLN million PLN million +19.0% +19.3% +7.9% +2.7% 91,453 178,260 183,147 84,722 171,233 271 164,812 250 78,527 80,744 261 23,922 13% 76,860 153,479 261 22,997 27
Slide 47: mBank in the Czech Republic and Slovakia
mBank in the Czech Republic and Slovakia Gross loans and share in total mBank’s retail volume Deposits and share in total mBank’s retail volumes PLN million PLN million 13.4% 16.4% +20% +45% +9% 0% 12,263 28,420 30,152 30,105 10,300 10,587 11,268 25,619 10,181 4,702 4,819 4,863 3,577 3,959 20,721 4,
Slide 48: mBank in the Czech Republic and Slovakia
mBank in the Czech Republic and Slovakia Mortgage loans Non-mortgage loans Customer deposits Czech Republic CZK million CZK million CZK million +25% +53% physical network: +6% light +9% +3% -1% 17 branches financial 5 centres 29,522 15,745 142,981 141,189 23,610 26,978 14,818 15,305 92,489 8 mKiosks
Slide 49: Corporate & Investment Banking – client base and network
Corporate & Investment Banking – client base and network Number of mBank’s corporate clients First-class digital banking offer for companies Corporate customers split: +1,926 entirely digital onboarding process, with no in-person K1 segment contact and printouts required 37,375 37,551 38,023 38,818
Slide 50: Corporate & Investment Banking – results and strategic financing
Corporate & Investment Banking – results and strategic financing Total revenues of the segment Profit before income tax of the segment PLN million PLN million +6% -5% +8% -5% 1,094 1,073 1,034 1,072 1,156 648 648 615 546 504 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 mBank’s engagem
Slide 51: Corporate & Investment Banking – business volumes
Corporate & Investment Banking – business volumes Development of gross loans to corporates and public sector Development of deposits from corporates and public sector PLN million PLN million +16.1% +18.3% +1.9% +4.8% 70,227 71,527 72,983 69,619 65,864 1,570 1,452 64,333 64,919 7,986 60,483 1,175 62,
Slide 52: mBank supports financing change and unlocking economic potential
mBank supports financing change and unlocking economic potential Execution of selected mBank Group’s sustainability targets (pillar: economic momentum) Energy efficient mortgages Share of sustainable finance Financially healthy clients Double the volume of energy efficient Allocate 15% of corporate
Slide 53: Performance of main subsidiaries of mBank
Performance of main subsidiaries of mBank offered financing in the form of leasing of cars, offered services include domestic and export trucks, machinery and real estate as well as recourse and non-recourse factoring, established in 1991 car fleet management (CFM) services established in 1995 finan
Slide 54: Performance of main subsidiaries of mBank
Performance of main subsidiaries of mBank specialised mortgage bank and active main activities include establishment and issuer of covered bonds on both domestic management of investment funds and established in 1999 and foreign capital markets established in 2021 providing portfolio management serv
Slide 55: Historical financial results of mBank Group
Historical financial results of mBank Group PLN million 2022 2023 2024 2025 9M 2025 9M 2026 ∆ YoY Net interest income 5,924 8,873 9,589 10,019 7,536 7,517 -0.3% Net fee and commission income 2,120 1,916 1,972 2,208 1,665 1,739 +4.4% Net trading and other income -187 13 446 239 204 215 +5.4% Total in
Slide 56: mBank remains on track to meet its strategic financial targets
mBank remains well on track to meet its strategic financial targets Execution of mBank Group’s strategic financial KPIs after 9M 2026 High profitability Excellent operating efficiency Return on tangible equity (ROTE) Cost/income ratio (normalized) 21.3% >22% ≤35% 31.6% lower due to increased CIT rat
Slide 57: Strategy for 2026-2030 is based on three pillars
mBank Group’s Strategy for 2026-2030 is based on three pillars ▪ focus on fulfilling client needs at every stage of life by providing tailored financial products to deepen relationships, strengthen loyalty, take care of financial planning and well-being Lifecycle-based ▪ develop unique hybrid servic
Slide 58: ESG is well embedded in mBank Group's strategy
ESG is well embedded in mBank Group's strategy mBank Group’s sustainability targets for 2026-2030 Climate Economic Inclusive action momentum by design Developing a resilient business model Financing change and unlocking Shaping a workplace alongside the transition plan economic potential for everyon
Slide 59: Information about mBank's shares on the stock exchange
Information about mBank's shares on the stock exchange Parameters of mBank’s shares mBank’s share price performance v. main indices (rebased to 100) as of 30.09.2026 180 mBank’s share price ISIN code PLBRE0000012 175 +73.7% 30.09.2025 900.0 170 Bloomberg MBK PW 165 MIN (30.09.2025) 900.0 (market clo
Slide 60: Disclaimer
Disclaimer This presentation has been prepared by mBank S.A. for information purposes only and is based on mBank S.A. Group Consolidated Financial Report for the third quarter of 2026, prepared under the International Financial Reporting Standards. For more detailed information on mBank S.A. and mBa
Slide 61: Contact details
Contact details Karol Prażmo Managing Director for Treasury and Investor Relations +48 607 424 464 karol.prazmo@mbank.pl Joanna Filipkowska Head of Investor Relations +48 510 029 766 joanna.filipkowska@mbank.pl Paweł Lipiński +48 508 468 023 pawel.lipinski@mbank.pl mBank’s Investor Relations at your