mBank creates large reserves for francs. There will be a net loss for the entire year

The costs of legal risk related to mortgage loans in Swiss francs in the third quarter of 2022 amounted to almost PLN 2.34.336 billion. This means that the total value of provisions created for this legal risk at the end of September 2022 will amount to PLN 6.8 billion. Our estimates show that the coverage of mBank’s franc portfolio with provisions increased to 53%. with 35 percent in June. This is clearly more than the sector average the analyzed nine had such reserves worth a total of PLN 23.9 billion, which was then 33.7 percent. gross active portfolio of Swiss franc mortgages.

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