Profil:
mBank SAmBank aims at rebuilding its capital position
Listed lender mBank will focus on strengthening its capital position and increasing its market shares, the company's deputy CEO in charge of bank's management board Cezary Kocik told the conference.
"We want to move from a defensive strategy to a renewed offensive. We have already increased our market share in new sales in certain credit products, but after that it will take us some time to rebuild our market share," Kocik said.
"I would like this to be the start of a return to volume growth, above all faster than the market and the rebuilding of our market shares," he added.
The deputy CEO reported that the aim is to maintain results at the level "of the second quarter or even better".
He added that the bank is starting work on a new strategy.
Kocik pointed out that the bank intends to use various instruments (including synthetic securitisation transactions) to strengthen the bank's capital position but ruled out the possibility of issuing new shares.
"We intend to use all other available ways to strengthen the capital base, and we intend to do so in the short rather than the long term," he said.
At the beginning of July, Cezary Stypulkowski, the long-standing CEO of mBank, resigned from his position. Earlier, in June, Cezary Kocik, who until this point had been the deputy CEO of the management board for retail banking, was conditionally appointed as CEO. Kocik's appointment is subject to the approval of Poland's financial market regulator KNF.
The bank's Tier 1 ratio is 13.7 percent and the total capital ratio is at 15.5 percent. TREA's MREL ratio is at 22.79 percent and is above regulatory requirements.
seb/ ao/