Key financial and operational data

In 2017, the total income of mBank Group was at historically high level of PLN 4,453.6 million. In comparison to the previous year, the income increased by 3.7%. In turn, excluding the impact of oneoff transaction in 2016, i.e. the settlement of the Visa Europe takeover transaction by Visa Inc., the increase would be 10.0%.

The growth resulted mainly from record-high core income, which consists of net interest income and net fee and commission income. Net interest income grew by 10.7% year on year and reached PLN 3,135.7 million, while net fee and commission income increased by 9.5% to PLN 992.2 million.

In 2017, total overhead costs (including amortisation) of mBank Group grew by 4.1% and stood at PLN 2,043.2 million. The increase in costs resulted from investments in future growth, slight increase in remuneration costs and higher contribution to the Bank Guarantee Fund.

The Group generated net profit attributable to the owners of mBank of PLN 1,091.5 million in 2017. The result was 10.5% lower than PLN 1,219.3 million of net profit reported in 2016.

However, it should be emphasized, that after excluding 2016 base effect caused by one-off event, the 2017 net profit would be 6% higher than the profit achieved in the previous year.