|
31.12.2017 |
31.12.2018 |
31.12.2019 |
Annual change in % |
| Number of corporate clients |
22,048 |
23,706 |
26,476 |
11.7% |
| K11 |
2,093 |
2,193 |
2,319 |
5.7% |
| K21 |
7,088 |
7,520 |
8,211 |
9.2% |
| K31 |
12,867 |
13,993 |
15,946 |
14.0% |
| PLN M |
|
|
|
|
| Loans to corporate clients, including: |
23,010.6 |
25,635.6 |
28,962.4 |
13.0% |
| K1 |
5,316.9 |
7,052.8 |
7,307.1 |
3.6% |
| K2 |
14,529.7 |
15,745.6 |
18,685.1 |
18.7% |
| K3 |
2,973.0 |
2,519.1 |
2,840.9 |
12.8% |
| Reverse repo/buy sell back transactions |
57.1 |
200.3 |
13.4 |
-93.3% |
| Other |
133.8 |
117.9 |
115.9 |
-1.8% |
| Deposits of corporate clients, including: |
31,068.5 |
32,987.4 |
35,216.0 |
6.8% |
| K1 |
11,999.2 |
12,765.2 |
12,434.0 |
-2.6% |
| K2 |
13,483.3 |
13,048.9 |
14,934.4 |
14.4% |
| K3 |
5,079.0 |
5,993.2 |
7,079.4 |
18.1% |
| Repo transactions |
82.6 |
713.1 |
175.4 |
-75.4% |
| Other |
424.4 |
467.1 |
592.9 |
26.9% |
1Due to the customer re-segmentation in 2019, corporate customer, loans and deposits data is incomparable year on year.
The year 2019 saw an increase in corporate loans and deposits. The corporate loans market grew by 2.6% year on year, whereas the corporate deposits market expanded by 9.7%. mBank outperformed the market with its loan and deposit volumes up by 17.0% and 20.9%, respectively. At the end of 2019 mBank’s shares in the market for corporate loans and deposits reached 7.5% and 9.9%, respectively.
In 2019 the bank further intensified its efforts to attract new corporate clients, which resulted in high acquisition of new companies: the corporate client base (K1, K2 and K3) grew by 2,770 companies year on year to 26,476. Consequently, client acquisition grew by 11.7% year on year. Successful client acquisition pushed current account deposits held with mBank up to PLN 24.8 billion at the end of 2019, which represents an increase by 14.9% year on year. The high volume of current deposits is a springboard for continued development of transactional banking, which is of special relevance to the bank due to its growth potential and further tightening of cooperation with clients. Interestingly, the number of factoring clients grew by 37.5% compared with 2018.
In 2019 the bank conducted another Corporate Client Satisfaction Survey. It is a relationship exercise designed to comprehensively assess clients’ cooperation with the bank. We believe that feedback from clients is a highly valuable indicator of measures that should be taken in order to enhance our image as a bank offering the very best solutions for demanding corporate clients. When measuring customer satisfaction, our key focus is always on the Net Promoter Score (NPS). The NPS for corporate clients who indicated mBank as their main bank stood at 41, which is similar to the previous year’s figure. mBank fared much better than the market average of 17 (source: Kantar Polska, August 2019). The most important element of the NPS programme is the closed-loop feedback process: mBank advisers talk to representatives of the surveyed corporate clients immediately after the survey to collect more detailed feedback and uncover the reasons for detractors’ reluctance to recommend the bank and for promoters’ willingness to suggest mBank to their business partners.
The sound level of NPS in the Corporate and Investment Banking segment is a result of active measures taken as part of the mSatisfaction project (“mSatysfakcja”). The main goal of this initiative is to increase the level of genuine satisfaction with mBank’s offer and services among corporate clients, listen to clients, and improve their relationship with the bank in the context of promoting one of the most significant values fostered by mBank – empathy towards clients.
The mSatysfakcja project involves, among others, transactional surveys. We ask clients how satisfied they are with individual products and processes offered by mBank and how likely they are to recommend them.
2019 saw further growth and development in the small and medium-sized enterprises segment (SME – K3), as evidenced by a 37% year-on-year upturn in the number of new clients. Advanced corporate banking services coupled with state-of-the-art tools, including the modern electronic banking system mBank CompanyNet, were highly popular with clients. Digitalisation processes enable greater self-service for current account holders. The state-of the-art electronic banking system features, in particular the Administrator’s Centre enabling clients to easily manage users and rights. This solution has already been used by as many as 60% of SME clients. In addition, the Virtual Branch allows clients to apply for products and services.
mBank’s initiatives and actions introduced so far in the K3 segment have been well received by clients, which is reflected by customer satisfaction survey results (NPS of 37 for entrepreneurs that indicated mBank as their main bank). In addition, the proportion of corporate clients satisfied or very satisfied with mBank’s services stood at 75%, which is similar to last year’s figure (source: Corporate Client Satisfaction Survey – K3 Segment, September 2019).
In order to respond to challenging market conditions, mBank has been continuously enhancing its SME customer service processes and adjusting its product portfolio to client needs and the legal environment.
For example, we launched new packaged deals for SMEs. Clients can choose from three deals offering key banking products and services (Growth (“Rozwój”), Balance (“Równowaga”) or World (“Świat”), depending on which suits their business best. More than 60% of clients have already chosen to take this offer.
We introduced a new customer service model dedicated to business clients who have so far not been actively using banking products or seeking support from advisors. The new service is provided by a team of virtual advisors entitled to render the services of traditional advisors. Thanks to this new solution every SME client, regardless of the scale of business, can receive help from advisors and gets in touch with the bank more readily. 2019 was the second year when Corporate Banking launched an offer dedicated to the Great Orchestra of Christmas Charity (WOŚP). As part of the campaign entitled You Don’t Grow Out of Good Things (“Z dobrych rzeczy się nie wyrasta”) 228 corporate clients decided to open an account with mBank and donate all bank account and transfer fees due for the period from January to June 2019 to WOŚP.
mBank’s Corporate Banking was awarded by the Global Finance international magazine and took top spot in two categories: the World’s Best Treasury and Cash Management Banks and Providers 2019 and the Best Corporate Digital Bank 2019. Furthermore, the bank was also named the best digital bank for corporates in Central and Eastern Europe in the World’s Best Corporate/Institutional Digital Banks 2019 contest.
The Cashless Poland Foundation (Fundacja Polska Bezgotówkowa) once again recognised mBank for its efforts to promote cashless payments in Poland. The bank was awarded in the category of entities with the highest sales of contracts under the Cashless Poland Programme in 2019.
In October 2019 the Euromoney magazine announced the results of its annual survey in which clients assessed the quality of services offered by their banks. Once again mBank was among the leaders of the Euromoney Cash Management Survey and ranked second in Poland in the Best Services category. The financial services offered by banks were assessed by finance managers – CFOs, treasurers and accountants. mBank has been at the top of this league table for several years, which shows clients’ appreciation for the quality of services, innovative solutions, and personalized approach offered by the bank.
In H1 2019 mBank was also a laureate of the Financing Bank of the Year award of the Polish Private Equity and Venture Capital Association (Polskie Stowarzyszenie Inwestorów Kapitałowych, PSIK) for its achievements on the Polish private equity/venture capital market. In the Financing Bank of the Year category mBank was also awarded the Investment Diamonds prize for the most professional bank supporting investment.
The key objective of Corporate and Investment Banking is to continue the dynamic growth in the K3 segment and maintain a strong position in the K2 segment. Moreover, we put an even greater focus on streamlining processes, simplifying documentation, and introducing improvements to enhance our clients’ everyday comfort. The solution enabling clients to cross-check accounts against the white list of VAT payers developed in 2019 can serve as an example. Starting from 2020, a new law provides for sanctions for corporate clients transferring more than PLN 15,000 to an account not included on the white list. On January 7, 2020, mBank enabled its clients to cross-check the accounts of their beneficiaries against the white list in mBank CompanyNet. The service is free of charge regardless of the transfer amount. This way mBank responds to the needs of its clients and makes doing business in the ever-changing legal environment easier for them. Digital Client Onboarding („Cyfrowy onboarding Klienta – COBRA”) is another innovative project launched at mBank to digitalise the client onboarding process. The project will deliver an electronic sales platform offering the majority of transactional banking products, in particular bank accounts, payment cards or cash service, and facilitating innovative interactions with clients. The primary goal of the project is to add real value to clients by reducing the time needed to open a corporate account with the bank and by digitalising the process, i.e. getting rid of paper applications, agreements, and signature specimen cards. The project is expected to boost efficiency by creating an acquisition process that reduces the workload for advisors and by migrating all the processes operated by advisors to one single system.
