Strategic assumptions, concerning a product offer, the aim to strengthen or keep a market position in particular categories as well as an assessment of key trends and competitive situation, are reflected in the projections of mBank Group’s financial results.

In particular, we intend to further consistently increase the share of higher yielding assets and customer deposits in the balance sheet structure, as well as maintain diversification of funding sources through issuances of Eurobonds (EMTN Programme) and covered bonds by mBank Hipoteczny.

Our strategic goal is to keep the position among top Polish banks in terms of key financial metrics. In the mid-term horizon, our profitability shall systematically improve thanks to rising revenues, decent cost discipline and prudent approach to risk management. Favourable changes in the balance sheet structure are going to translate into gradual improvement of net interest margin, while a growth of total income outpacing an inflation of costs will ensure higher efficiency. Consequently, we assume to generate a return for the shareholders that will be attractive compared to other Polish banks.

The activities of mBank Group in the coming years will be focused on achieving the following financial targets, defining our profitability, stability and growth:


Net interest margin (NIM): increase to ~3.0% in 2023


Cost/Income ratio (C/I): reduction to ~40% in 2023


Return on equity (ROE net): improvement to ~10.5% in 2023


Loans/Deposits ratio: in a range of 92-94% every year

1.5 p.p.

Capital ratios: year-end level minimum 1.5 p.p. above the PFSA requirements


Average annual growth (CAGR) in 2019-2023 at: ~6% for loans and deposits, ~8% for total income, ~5% for total costs

In line with long-term strategy of mBank Group, our goal is to pay 50% of net profit as a dividend. The adopted dividend policy allows for keeping capital ratios at the safe levels.

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