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mBank maintains a positive outlook toward its core earning trends

TAG'S: mBank SA, Banking

mBank, the Warsaw-listed unit of Germany's Commerzbank, expects slightly positive trends in both interest and fee income to end-2017, offset in apart by risks on the cost side, management said in soft guidance in its Q2 earnings presentation.

Net interest margin should show "continued gradual increase" thanks to changes in the loan book structure, although cramped by "limited room" for reducing funding costs, management said.


Those loan book changes bring a "small downside risk" to potential loan loss provisions although overall asset quality is called "resilient."


Fee income can grow on "constantly rising" transaction volumes and "strong acquisition" of clients in both retail and corporate. "Select" fee rates could be up for adjustment, management adds.


Costs could prove a slight negative on the continued impact of the new regime for the Banking Guarantee Fund and rising amortization of IT projects.



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