Mbank Sa · GPW:MBK
Mbank Sa — Q3 2025 Earnings Presentation
54 slides from Mbank Sa's earnings presentation, Oct 30, 2025
Slide 1: Results of mBank Group Q3 2025
Results of mBank Group Q3 2025 Volume momentum and strong results continued Presentation for the market, 30.10.2025
Slide 2: Agenda
Agenda 01 Key financial and business highlights for 9M 2025 02 Overview of the results development in Q3 2025 03 Update on Poland’s macroeconomic situation and outlook 04 Appendix
Slide 3: Key financial and business highlights for 9M 2025
01 Key financial and business highlights for 9M 2025
Slide 4: Key highlights at mBank Group in 9M 2025
Key highlights at mBank Group in 9M 2025 Improving reported net profit amid strong financial performance Total revenues on the upward Best-in-class operating efficiency Reported net result doubled YoY trajectory, driven by rising net despite higher contributions to to the level of PLN 2.5 billion in
Slide 5: Key highlights at mBank Group in 9M 2025
Key highlights at mBank Group in 9M 2025 Well on track with strategic priorities set for 2025 Dynamic expansion of business Declining legal provisions for FX Strengthened capital base with volumes with credit portfolio mortgage loans amid reduced significant surplus over regulatory growing in both r
Slide 6: Market position of mBank Group in Poland after 9M 2025
Market position of mBank Group in Poland after 9M 2025 mBank Group’s market shares in strategic product categories HOUSEHOLDS HOUSEHOLDS HOUSEHOLDS total loans total deposits total mortgage loans 8.0% 8.6% 7.9% 8.5% 8.5% 8.5% 8.4% 8.4% 7.8% 7.8% 7.8% 8.4% 8.4% 8.4% 8.4% 09/24 12/24 03/25 06/25 09/25
Slide 7: Highlights of financial innovation in Q3 2025
Highlights of financial innovation in Q3 2025 Setting new standards in technological and product development mBank won Forrester’s Technology Strategy Impact mBank is the first in the world to offer a smart Award 2025 for EMEA payment ring with health and activity tracking The jury has highly praise
Slide 8: mBank's Transition Plan published in October 2025
mBank’s Transition Plan published in October 2025 Developing a resilient business model alongside credible transition plan mBank is the first bank in Poland with decarbonization targets validated by the Science Based Targets initiative (SBTi), ensuring alignment with the Paris Agreement’s 1.5°C path
Slide 9: Overview of the results development in Q3 2025
02 Overview of the results development in Q3 2025
Slide 10: Summary of financial results in Q3 2025: Profit and Loss Account
Summary of financial results in Q3 2025: Profit and Loss Account PLN million Q3 2024 Q2 2025 Q3 2025 ∆ QoQ ∆ YoY Net interest income 2,571.4 2,497.2 2,461.3 -1.4% -4.3% Net fee and commission income 499.2 582.1 580.2 -0.3% +16.2% Net trading and other income 79.3 117.9 137.8 +16.9% +73.9% Total inco
Slide 11: Summary of financial results in Q3 2025: Balance Sheet
Summary of financial results in Q3 2025: Balance Sheet PLN million Q3 2024 Q2 2025 Q3 2025 ∆ QoQ ∆ YoY Total assets 238,574 256,176 261,538 +2.1% +9.6% Gross loans to customers 127,504 136,677 139,746 +2.2% +9.6% Individual client loans 69,700 74,120 76,860 +3.7% +10.3% Corporate client loans 1 53,6
Slide 12: Results of mBank Group after Q3 2025 – New lending business
Results of mBank Group after Q3 2025 – New lending business Superb sales of mortgages, along with solid consumer and corporate credit origination Sales of mortgage loans Sales of non-mortgage loans Sales of corporate loans PLN million PLN million PLN million mBank PL mBank CZSK mBank PL mBank CZSK b
Slide 13: Results of mBank Group after Q3 2025 – Loans to customers
Results of mBank Group after Q3 2025 – Loans to customers Faster-than-market growth of loan portfolio mainly driven by retail business segment Development of mBank Group’s gross loans Market shares in loans PLN million 30.09.2025, in Poland +9.6% +2.2% ∆ QoQ ∆ YoY HOUSEHOLDS total loans w/o FX 136,6
Slide 14: Results of mBank Group after Q3 2025 – Customer deposits
Results of mBank Group after Q3 2025 – Customer deposits Dynamic expansion of deposit base fuelled by steady inflows to retail transactional accounts Development of mBank Group’s deposits Market shares in deposits PLN million 30.09.2025, in Poland +10.6% +4.0% ∆ QoQ ∆ YoY HOUSEHOLDS total deposits 2
Slide 15: Results of mBank Group after Q3 2025 – Total income and margin
Results of mBank Group after Q3 2025 – Total income and margin Net interest income under some pressure due to rate cuts, while net fees stayed strong Development of mBank Group’s total income Development of net interest margin PLN million quarterly data, excluding impact of “credit holidays” +5.0% i
Slide 16: Results of mBank Group after Q3 2025 – Total costs and efficiency
Results of mBank Group after Q3 2025 – Total costs and efficiency Excellent efficiency maintained despite increased marketing spending and amortisation Development of mBank Group’s operating costs Development of Cost/Income ratio PLN million quarterly data +15.0% 33.9% excluding +11.0% +X.X% 2,856.0
Slide 17: Results of mBank Group after Q3 2025 – Credit losses and cost of risk
Results of mBank Group after Q3 2025 – Credit losses and cost of risk A normalization of risk costs along with a rise of credit provisions for the corporate exposures Net impairment losses and fair value change on loans Development of cost of risk PLN million quarterly data +22.1% Dynamics for the s
Slide 18: Results of mBank Group after Q3 2025 – Loan portfolio quality
Results of mBank Group after Q3 2025 – 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 4.1% 4.1% 3.8% according to EBA -9.6% 3.5% 3.4% definition ha
Slide 19: Results of mBank Group after Q3 2025 – Legal risk of CHF portfolio
Results of mBank Group after Q3 2025 – Legal risk of CHF portfolio Continued progress with settlements, declining number of new and pending court cases Settlements concluded by mBank New CHF-related court cases CHF loan contracts in court with CHF borrowers, cumulative number number of contracts ent
Slide 20: Results of mBank Group after Q3 2025 – Legal risk of CHF portfolio
Results of mBank Group after Q3 2025 – Legal risk of CHF portfolio Effective management of CHF portfolio allowed to further reduce balance sheet risks Value of CHF mortgage loans Decomposition of CHF loan contracts at mBank granted to natural persons, PLN million, net number of contracts, as of 30.0
Slide 21: Results of mBank Group after Q3 2025 – Net result and profitability
Results of mBank Group after Q3 2025 – Net result and profitability Reported net profit at already sound level, underpinned by the strength of core operations Development of mBank Group’s net profit Development of return on equity (ROE) PLN million quarterly data -0.7% 42.5% 36.1% 34.1% 4,279.2 4,25
Slide 22: Results of mBank Group after Q3 2025 – Capital position
Results of mBank Group after Q3 2025 – Capital position Significant capital surplus over regulatory minima enabling further business expansion Own funds and their components Total risk exposure amount mBank Group’s capital ratios PLN million PLN million compared to regulatory requirement CET1 capita
Slide 23: Key take-aways after 9M 2025
Key take-aways after 9M 2025 We delivered: dynamic growth of loan portfolio (+9.6% YoY) and deposit base (+10.6% YoY) in both client segments, allowing for market share gains solid reported net profit and ROTE reaching 20%, thanks to strong revenues, excellent cost efficiency and contained credit lo
Slide 24: Update on Poland's macroeconomic situation and outlook
03 Update on Poland’s macroeconomic situation and outlook
Slide 25: 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.16 Jan.1
Slide 26: 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% Jan.14 Jan.15 Jan.16 Jan.17 Jan.18 Jan.19 Jan.20 Jan.
Slide 27: Macroeconomic forecasts and outlook for Poland
Macroeconomic forecasts and outlook for Poland Key economic indicators for Poland Main factors driving the performance in 2025 2022 2023 2024 2025F 2026F ▪ GDP growth in Poland is expected to reach 3.8%, GDP growth (YoY) 5.3% 0.2% 3.0% 3.8% 4.2% which should be a decent number without Domestic deman
Slide 28: Outlook for mBank Group for 2025
Outlook for mBank Group for 2025 We expect: total revenues to be visibly above the level reported for 2024 and exceed PLN 12 billion with interest rates kept stable in Poland until the end of the year costs of legal risk related to foreign currency loans to be a material burden to the financial resu
Slide 29: Appendix
Appendix
Slide 30: Consolidated Profit and Loss Account – quarterly
Consolidated Profit and Loss Account – quarterly Quarterly results (PLN thou.) Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Net interest income 2 571,355 2,512,930 2,438,716 2,497,238 2,461,339 Net fee and commission income 499,244 497,286 503,086 582,143 580,150 Dividend income 4,944 146 468 7,561 345 N
Slide 31: Consolidated Statement of Financial Position – quarterly
Consolidated Statement of Financial Position – quarterly Assets (PLN thou.) Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Cash and balances with Central Bank 25,893,176 36,680,926 16,722,455 20,796,566 21,972,629 Loans and advances to banks 17,503,613 9,738,457 18,791,826 19,280,968 20,540,865 Trading sec
Slide 32: mBank Group's financial ratios – quarterly and cumulatively
mBank Group’s financial ratios – quarterly and cumulatively Key financial ratios Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Net Interest Margin, quarterly 4.31% 4.27% 4.23% 4.12% 3.89% Net Interest Margin, YtD 4.37% 4.35% 4.23% 4.18% 4.08% Net Interest Margin, excl. CHF portfolio, YtD 4.43% 4.39% 4.29%
Slide 33: Quarterly results of mBank Group – Net interest income
Quarterly results of mBank Group – Net interest income Structure of mBank Group’s interest income Structure of mBank Group’s interest expense PLN million PLN million asset funding 6.5% 6.4% 6.2% 6.0% 5.7% yield 2.4% 2.3% 2.2% 2.1% 1.9% costs -3.9% -11.4% Presented development is adjusted for the imp
Slide 34: Quarterly results of mBank Group – Net fees and commissions
Quarterly results of mBank Group – Net fees and commissions Structure of mBank Group’s fee and commission income Structure of mBank Group’s fee and commission expense The fee result included: PLN million PLN million ▪ in Q3/25: settlement with a payment card organisation of PLN 41.6 million ▪ in Q2/
Slide 35: Selected Financial Data – 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 256.2 261.5 256.2 261.5 246.0 246.1 246.0 246.1 20.4 8% 238.6 28.3 29.3 11% 238.6 19.5 17.8 18.5 10.8 4% 24.6 15.3 11.1 3.6 1% 32.9 44.0
Slide 36: Selected Financial Data – 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 30.09.2025 30.09.2025 Real estate 4.7% 0.1% Building industry 4.6% 0.7% Financial activities 4.5% 17.7% Professional activities 2.9% 11
Slide 37: Selected Financial Data – Funding profile
Selected Financial Data – Funding profile Structure of mBank Group’s funding Summary of mBank’s long-term funding instruments 30.09.2025 30.09.2025 (without covered bonds issued by mBank Hipoteczny) Nominal Issue Maturity Currency Tenor Coupon value date date Other Subordinated liabilities 4.5% NPS
Slide 38: Selected Financial Data – Capital requirements and liquidity
Selected Financial Data – Capital requirements and liquidity Regulatory capital requirements for mBank Group 30.09.2025 Countercyclical Capital Buffer (CCyB), calculated as the weighted average of the CCyB rates that apply in the countries where the relevant credit exposures are located. The +4.67 p
Slide 39: Selected Financial Data – 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 +4.39 +4.35 24.05% 24.73% 23.19% 24.63% 23.84% 22.50% 23.10% 21.70% 22.81% 22.05% 19.45% 17.70% 4.09% 4.09% 15.36% 13.61% 09/24 12/24 03/25 0
Slide 40: Overview of customer activity and process digitalisation
Overview of customer activity and process digitalisation Users of mobile application Users of PFM functionalities Monthly active users (MAU) Corporate clients number of active users logging number of unique users, number of users performing number of customers serviced into every month, thousand tho
Slide 41: A leading mobile banking offer for individual clients
A leading mobile banking offer for individual clients Well-designed functionalities for client convenience Mobile application’s dashboard and basic features fully remote account opening with e-ID or a selfie and agreement approved via a text message easiest way to manage logging in and confirmation
Slide 42: Retail Banking – profit and network
Retail Banking – profit and network Profit before income tax of the segment Number of Retail Service Locations mBank CZSK PLN million -4 mBank CZSK Poland -3% mFinanse1 excluding impact 350 346 346 -4% -4% 43 of "credit holidays“ 42 42 mKiosks 1,187.2 1,201.4 1,157.6 40 40 40 1,067.6 1,026.1 57.4 30
Slide 43: 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 +10.3% +11.7% +3.7% +3.4% 76,860 153,479 74,120 144,402 148,458 70,589 71,546 142,248 315 69,700 137,421 296 340 259 24,502 16% 293 24,31
Slide 44: 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 13.2% 13.5% +13% +23% +5% +16% 9,737 10,181 20,721 8,994 9,153 9,242 17,033 17,051 17,806 16,910 4,501 3,052 3,180 3,273 3,009 3,05
Slide 45: 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 +4% +26% +25% physical network: light +3% +3% +19% 10 branches financial 6 centres 22,609 22,914 23,610 14,323 14,818 92,489 11,778 74,279 77,769 12 mKiosks
Slide 46: Best digital banking services for corporate clients
Best digital banking services for corporate clients First-class digital banking offer for companies Mobile application’s dashboard and basic features ▪ option to activate the app entirely digital onboarding process, with a QR code with no in-person contact and printouts required ▪ possibility to log
Slide 47: Corporate & Investment Banking – profit and network
Corporate & Investment Banking – profit and network Profit before income tax of the segment Number of corporate service locations – 30.09.2025 PLN million 2 2 1 2 +1% 2 Pomorskie Warmińsko- Zachodnio- Mazurskie 1 1 -7% Pomorskie 2 1 Podlaskie 29 mBank’s branches, Kujawsko- Pomorskie 4 2 incl. 13 adv
Slide 48: 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 +8.8% +7.9% +0.5% +5.6% 62,556 62,886 60,483 58,561 57,266 59,888 56,079 56,215 964 57,803 7,042 7,237 1,299
Slide 49: Performance of main subsidiaries of mBank
Performance of main subsidiaries of mBank specialised mortgage bank offered financing in the form of offered services include and active issuer of covered leasing of cars, trucks, machinery domestic and export recourse bonds on both domestic and real estate as well as car and non-recourse factoring
Slide 50: Historical financial results of mBank Group
Historical financial results of mBank Group PLN million 2020 2021 2022 2023 2024 ∆ YoY Net interest income 4,009.3 4,126.3 5,924.0 8,873.5 9,589.0 +8.1% Net fee and commission income 1,508.3 1,867.8 2,120.1 1,915.9 1,971.9 +2.9% Net trading and other income 349.2 117.1 -187.2 12.9 446.0 +3345% Total
Slide 51: 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 credible transition plan economic potential for ev
Slide 52: Information about mBank's shares on the stock exchange
Information about mBank's shares on the stock exchange mBank’s index membership and weights mBank’s share price performance v. main indices (rebased to 100) as of 30.09.2025 165 mBank’s share price 160 WIG20 3.137% 30.09.2024 617.4 155 MIN (28.11.2024) 530.0 (market closing) WIG30 3.002% 150 MAX (19
Slide 53: Disclaimer
Disclaimer This presentation has been prepared by mBank S.A. for information purposes only and is based on the Condensed Consolidated Financial Statements for the third quarter of 2025, prepared under the International Financial Reporting Standards. For more detailed information on mBank S.A. and mB
Slide 54: 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