Dear Sirs,

I am pleased to present the latest integrated report of mBank Group comprising mBank S.A., the Group members: mLeasing, mFaktoring, mBank Hipoteczny and mFinanse, as well as branches in Slovakia and the Czech Republic.

Taking into account the highest possible transparency and quality of communication and reported data, this report has been prepared under the international guidelines of the International Integrated Reporting Council. This year’s edition is also consistent with  the Global Reporting Initiative (GRI) reporting guidelines in the version of Standards and the Global Compact principles.

In 2018, we continued to pursue our strategy, which always puts the clients in the centre of our attention and urges us to focus on their needs at any time and in any situation. Furthermore, our activities were still based on unique internal standards and regulations, including the Code of Conduct, the mBank Employee Values and Behaviour Model, the CSR Strategy, as well as the external Code of Ethics in Banking. As a result, we combined excellent financial results with improvements to our corporate responsibility and sustainability approach. Our achievements in both these areas are confirmed by mBank’s participation in the RESPECT Index of the Warsaw Stock Exchange.

Last year was special at our institution for many reasons. First of all, we came of age and celebrated the 18th anniversary of our presence on the Polish retail banking market. Secondly, we delivered the highest financial result in the history of the bank – mBank Group generated historically high recurrent income of PLN 4,839 million, which represents an increase of 8.7% year on year. This was equally reflected in the better results achieved by both the retail and corporate segments. The net profit attributable to the shareholders of mBank was PLN 1,316 million, representing a year-on-year increase of 4.3% on a comparable basis net of the one-off gains on the sale of an organised part of mFinanse. We improved the key financial indicators and reported dynamic growth of business volumes. Thirdly, the scale of our engagement in corporate social responsibility initiatives was truly unique. In particular, we established relations with the Great Orchestra of Christmas Charity (WOŚP) and we donated PLN 7 million, the biggest single donation in the history of the initiative, matching the donations of our clients.

All of these and many other aspects of initiatives pursued by our Group are described in this report. It is our aspiration to move to a higher level of reporting and present information which best addresses your needs in a transparent and user-friendly format.

Respectfully yours,

Cezary Stypułkowski

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