mBank Eyes Record Profit, Plans Dividend Return

mBank has announced a strong second quarter for 2026, with net profit exceeding 1.06 billion Polish zloty. This figure represents a 10.5% increase compared to the same period last year and surpassed market analysts' expectations. For the first half of the year, the bank's net profit climbed to 2.01 billion zloty, a significant 20.9% rise year-on-year. The bank highlighted robust growth in its core business. Net loans and advances increased by 13.2% year-on-year to 150.8 billion zloty. Mortgage lending showed particularly strong performance, with a 17.7% increase and a record-breaking first-half sales volume of 10.7 billion zloty. Retail customer deposits also saw substantial growth, rising over 20% year-on-year to 178 billion zloty. During a results conference, mBank CEO Cezary Kocik reaffirmed the bank's commitment to resuming dividend payments from the 2026 profit. He stated that 30% of the profit would be distributed, with a long-term goal of reaching 75%. If the bank maintains its first-half performance, its full-year profit could reach approximately 4 billion zloty, potentially leading to a dividend payout of around 1.2 billion zloty. Kocik expressed optimism for the second half of the year, anticipating that overall revenue will surpass 2025 levels despite lower interest rates. This is expected to be driven by increased loan volumes and commission income offsetting pressure on interest margins. The bank also aims to maintain its cost-to-income ratio below 35% and expects legal costs related to Swiss franc mortgages to decrease as court cases diminish.