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About the bank

Who are we? What are we like?

For years mBank has been a synonym for innovative banking solutions. We were the first fully Internetbased bank in Poland and today we are setting trends in the development of mobile banking sector.

We are one of the strongest and fastest growing financial brands in Poland. As set out in our strategy, we strive to provide our clients with the best mobile banking solutions, giving them control over their finances whenever and wherever they need it. Natural associations with mobile banking triggered by the mBank brand (“m”) strongly support the mobile direction of the bank’s development.

The bank was incorporated in 1986 as Bank Rozwoju Eksportu and originally provided its services only to corporate clients. We have been present in the retail clients segment since 2000 when mBank was founded. Shortly after, in 2001, we set up MultiBank. Today we are a universal bank serving all client groups.

5 M
retail clients
50% retail clients
below 35
4. largest bank
in terms of assets

In 2000, we created the first truly Internet bank in Poland from scratch. It was a bank whose internal processes were digitally designed from the start and whose Internet platform, and then also mobile application, were not only additions to brick-and-mortar branches, but the primary channels of communication with clients.

Since the very beginning, mBank has relied on organic growth, which means that the current scale of its business has been achieved without takeovers of other banks and financial institutions. After only 17 years in business, mBank’s retail banking segment serves more than 5 million clients and accounts for over 60% of income generated by mBank Group. We are currently the fourth largest bank in Poland in terms of assets.

Our unique offer based on digital banking innovations is very popular among young people: a half of our retail clients are below 35. mBank is the second most popular bank among young people (aged up to 24). It means that the demographic structure of our clients is much more prospective than that of other banks. It is our ambition to see one in three young people opening their first bank account with mBank. To mBank, a maturing client base is a natural source of rising income.

We aspire to being the leading transactional bank for our clients. It means that our relationship with clients is based on a solid, long-term ground of comfortable payment and settlement solutions available on a state-of-the art online and mobile banking platform. Compared to the clients served by our competitors, mBank clients are more fond of cashless solutions: the share of card transactions made by mBank clients in the entire cashless payments market accounts for nearly 13%. Having built such a strong relationship with clients, mBank managed to get to know them well and uses advanced analytical technologies to customize its offer to perfectly suit their financial needs.

Our mobile application has been increasingly popular and highly rated (4.5 in Google Play Store based on 93 thousand reviews), and has the highest number of active users in Poland. Thanks to convenient and secure features, such as instant transfers to mobile numbers, loans available in 30 seconds or direct connection to mLine from the app, it has been used more frequently than the Internet platform.

…or is one step ahead of them. For the majority of our new clients the Internet platform is the first channel of contact with mBank and the importance of remote channels has been constantly on the rise. A middle-sized branch network and a smoothly operating call centre are an important complement to digital channels. Thanks to the solutions developed by mBank, all individual distribution channels complement one another, thus allowing the clients to select the access channels that best suit their needs.

By taking such an approach designed to meet the challenges of digital reality and clients’ needs, the bank is highly effective and will need no structural adjustments in the nearest future.

mBank is a trusted business partner to both small and medium-sized enterprises and the largest corporations. We provide them with advanced and convenient transactional solutions and integrate traditional credit operations with investment banking and specialist services offered by the Group subsidiaries.

It is our goal to serve our clients the way they want it and when they want it, and to be guided by their actual needs rather than by our idea of those needs. The importance of this goal is reflected in our mission statement: “To help. Not to annoy. To delight. Anywhere.” It stresses the emphatic approach of our business towards clients and the mobile direction of its development.

mBank Group

mBank Group consists of 10 consolidated subsidiaries with a different business profile, with the leading role of mBank S.A.

The structure of mBank Group according to operational activities:

Retail Banking Corporate and
Investment Banking
Financial Markets Services for
mFaktoring S.A.
mFinanse S.A.
mBank Hipoteczny S.A.
mLeasing Sp. z.o.o.
Garbary Sp.z.o.o.
mFinance France S.A.
Tele-Tech Investment Sp. z.o.o.
BDH Development Sp. z.o.o.
mCentrum Operacji Sp. z.o.o.
Future Tech FIZ

Composition of mBank Group and main areas of its activity

mBank continued its efforts towards introducing a leaner structure of mBank Group in 2017 (started in 2015).

In past year there have been significant changes in the Group structure. On June 2, 2017, mBank concluded a preliminary conditional agreement on the sale of mLocum shares to Archicom. The subject matter of the agreement was the sale of shares accounting for 79.99% of mLocum’s share capital and the voting rights at the Annual General Meeting of the company for PLN 87.6 million. The transaction will be completed in two stages. The first stage consisting in the sale of a 51.0% stake in the company was completed in Q3 2017.

Closure of the second stage of the transaction, in which 28.99% of the company’s shares will be sold, is planned to be finalised by the end of 2018; however, it may be postponed until June 30, 2020, on the terms and conditions stipulated in the agreement. The transaction reflects mBank Group’s focus on its core business. Selling mLocum to one of the leaders of the Polish real property development industry will enable the company to better use its potential and expand in all Poland.

Q4 2017 was marked by the sale of an organised part of mFinanse, a company whose activities involved, among other things, providing insurance intermediary services in the area of group insurance. The transaction will be closed in Q1 2018 after the fulfilment of conditions precedent stipulated in the agreement.

The transaction is a continuation of the process started in 2015 with the sale of BRE Ubezpieczenia TUiR. At the same time, the bank and mFinanse will further develop the sale of individual insurance policies. The Bank perceives insurance products as a natural element of its financial product offering.

Moreover, in Q2 2017, the bank acquired 100% of investment certificates in the Future Tech FIZ ClosedEnd Investment Fund (the Fund) for PLN 221.2 million. At the end of 2017 mBank held 98.04% of the investment certificates. The Fund was established as an investment vehicle within the mAccelerator project, which will focus on developing and commercialising high-potential projects in the field of new technologies for the financial services sector (fin-tech) (for more information on mAccelerator see section 1.7. Key projects of mBank Group in 2017). The Fund is managed by Quercus TFI S.A.

mBank Group (including consolidated subsidiaries) as at the end of 2017 was composed as presented on the diagram below.

Composition of mBank Group

Segment Retail Banking Corporates and Financial Markets
Corporate and Investment
Financial Markets


  • Retail customers, Private
    Banking clients
    and microenterprises
  • Affluent retail customers
    (Private Banking and
    Wealth Management)
  • Corporations and
    non-banking financial
    institutions (capital
    groups) (K1)
  • Large Companies (K2)
  • SME (K3)
  • Banks
  • Corporate clients in
    scope of trading and
  • Market and Liquidity
    Risk Management

Consolidated subsidiaries

  • mLeasing Sp. z o.o. –
  • mBank Hipoteczny S.A. –
  • mFinanse S.A.
  • mLeasing Sp. z o.o. –
  • mBank Hipoteczny S.A. – Corporate
  • mFaktoring S.A.
  • Garbary Sp. z o.o.
  • Tele-Tech Investment
    Sp. z o. o.
  •  mFinance France S.A.
    (special purpose entity
    reserved for financing
    activities of the bank)
  •  mLeasing Sp. z o.o. –
    within the scope related
    to fund raising
  • ▪ mBank Hipoteczny S.A. – within the scope related to fund raising
Other subsidiaries
  • mCentrum Operacji Sp. z o.o. (outsourcing services
  • BDH Development Sp. z o.o. (a real estate management company)
  • Future Tech FIZ

mBank Hipoteczny (mBH) is a mortgage bank with the longest track record of issuing covered bonds on the Polish capital market.

The main role of mBH is a ability to raise long-term financing in the form of mortgage covered bonds in order to improve the stability and diversification of financing activities of mBank Group.

mBH finances commercial investments on the real property market, including office buildings, commercial centres and facilities, hotels, warehouses, logistics centres, housing estates. Another important area of mBH’s operation is lending to the public sector in the area of municipal investments and real properties of local government units.

In addition to its lending activity, mBH offers also market analyses and advisory services addressed to investors and entities active on the commercial real property market.

According to Fitch Ratings, mBH’s long-term and short-term ratings are “BBB” and “F2”, respectively. The mortgage covered bonds issued by mBH are rated “A”. For more information about mBH’s ratings, see later in the chapter.

mFinanse is a financial services intermediary operating as an open platform for selling financial products of various institutions including mBank. Its product offer includes loans, accounts, insurance as well as investment and savings products for both individuals and companies. The subsidiary offers the products of 17 financial entities, in more than 164 outlets across Poland.

mLeasing is one of the largest leasing companies in Poland and ranks first on the real property leasing market and fourth on the leasing market in 2017. In 2016 the company was ranked third on the market. The decrease resulted from the merger of 2 large leasing companies: PKO Leasing and Raiffeisen Leasing.

The subsidiary offers lease financing, loans, and car fleet rental and management services addressed to both corporate and retail clients.

In the corporate segment mLeasing offers various types of leasing products, including lease of private and commercial cars and heavy transport vehicles, car fleet management, lease of machines and equipment, and real property lease.

In the retail segment the subsidiary operates the “Leasing in Retail” programme addressed to microenterprises and SMEs, which are offered lease contracts using dedicated lease processes.

mFaktoring is the eight largest player on the Polish factoring market among the members of the Polish Factors Association.

The services provided by mFaktoring are complementary to mBank’s corporate offer. mFaktoring offers the financing of ongoing business operations, receivables management, credit protection, maintenance of debtors’ settlement accounts and enforcement of receivables. In addition, the offer  includes domestic and export factoring with recourse and credit protection, as well as import guarantees.

Products offered by mFaktoring are available in all mBank branches providing services to SMEs and corporations in Poland.

mCentrum Operacji (mCO) provides back-office support to the members of mBank Group through the years.

In particular, the subsidiary handles the instructions and applications of retail and corporate clients of mBank Group. In addition, mCO supports the Group in terms of professional data archiving solutions, both electronic and paper -based.

The company’s services enable quick access to information, as well as support in planning, controlling and reducing costs and monitoring of data security and confidentiality. This ensures the timeliness and quality of services, which translates into an increase in the efficiency of customer service processes.

mBank’s Authorities

1. Maciej Leśny – Chairman of the Supervisory Board

2. Stephan Engels – Deputy Chairman of the Supervisory Board

3. Tomasz Bieske – Member of the Supervisory Board

4. Andre Carls – Member of the Supervisory Board

5. Marcus Chromik – Member of the Supervisory Board

6. Janusz Fiszer – Member of the Supervisory Board

7. Mirosław Godlewski – Member of the Supervisory Board

8. Jörg Hessenmüller – Member of the Supervisory Board

9. Thorsten Kanzler – Member of the Supervisory Board

10. Michael Mandel – Member of the Supervisory Board

11. Teresa Mokrysz – Member of the Supervisory Board

12. Agnieszka Słomka-Gołębiowska – Member of the Supervisory Board.

The 4 independent members of the Supervisory Board are: Tomasz Bieske, Janusz Fiszer, Mirosław Godlewski and Agnieszka Słomka-Gołębiowska.

  1. Cezary Stypułkowski – President of the Management Board, Chief Executive Officer
  2. Adam Pers – Vice-President of the Management Board, Head of Corporate and Investment banking (until October 25, 2017, the position was held by Przemysław Gdański)
  3. Andreas Böger – Vice-President of the Management Board, Chief Financial Officer (until June 30, 2017, the position was held by Christoph Heins)
  4. Lidia Jabłonowska-Luba – Vice President of the Management Board, Chief Risk Officer
  1. Frank Bock – Vice-President of the Management Board, Head of Financial Markets (until April 30, 2017, the position was held by Hans-Dieter Kemler)
  2. Cezary Kocik – Vice President of the Management Board, Head of Retail banking
  3. Krzysztof Dąbrowski – Vice – President of the Management Board, Head of Operations and Information Technology (until March 31, 2017, the position was held by Jarosław Mastalerz).

Detailed résumés of all members of mBank authorities are available here.

More information on changes in the Management Board and Supervisory Board of mBank during the year is available here.

We operate successfully in Poland, the Czech Republic and Slovakia.

mBank is the only bank in Poland with successful track record of rolling out its domestic business model into foreign markets.

We have been operating on three markets: since 1986 in Poland, and since 2007 in the Czech Republic and Slovakia. In both neighboring countries, we started our operations with transactional products and deposits for retail clients. Then, on the basis of established relations we also started offering mortgage and non-mortgage loans and mobile application.

Then, on the basis of created this relationship there also introduced a mortgage, and consumer and mobile application.300 several types of branches for retail clients in Poland, including light branches, advisory centres and mFinanse branches (i.e. mKiosks).

301 several types of branches
for retail clients in Poland, including light branches,
advisory centres and mFinanse branches (i.e. mKiosks).
29 corporate
17 corporate offices
in Poland.