mBank - S&P Global Ratings’ Credit Research

mBank

mBank - S&P Global Ratings’ Credit Research
mBank
Published Jun 30, 2015
12 pages (5003 words) — Published Jun 30, 2015
Price US$ 500.00  |  Buy this Report Now

About This Report

  
Abstract:

Sound profitability underpinned by good franchise and cost efficiency. Better-than-average asset quality. Likelihood of extraordinary support from parent company Commerzbank AG, if needed. High exposure to foreign currency denominated mortgages. Geographic concentration in Poland. Some reliance on wholesale and parental funding. Standard&Poor's Ratings Services' stable outlook on Poland-based mBank mirrors its view that the bank's capitalization is gradually improving, owing to the bank's sound earnings capacity supported by positive growth prospects of the Polish economy. In our opinion, this would likely counter parent bank Commerzbank AG's weakening capacity to provide mBank with support if we were to downgrade Commerzbank. However, we may consider downgrading mBank if we perceive a weakening in mBank's strategic importance to its parent and

  
Brief Excerpt:

...Some reliance on wholesale and parental funding. Outlook: Stable Standard & Poor's Ratings Services' stable outlook on Poland-based mBank mirrors its view that the bank's capitalization is gradually improving, owing to the bank's sound earnings capacity supported by positive growth prospects of the Polish economy. In our opinion, this would likely counter parent bank Commerzbank AG's weakening capacity to provide mBank with support if we were to downgrade Commerzbank. However, we may consider downgrading mBank if we perceive a weakening in mBank's strategic importance to its parent and a consequent weakening in the likelihood of extraordinary support from Commerzbank. Conversely, our ratings on mBank would be unaffected as long as our stand-alone credit profile (SACP) assessment for mBank is at or above '##+', owing to a potential group support from the parent, according to our group criteria....

  
Report Type:

Full Report

Ticker
BRE@PW
Issuer
GICS
Diversified Banks (40101010)
Sector
Global Issuers, Public Finance, Structured Finance
Country
Region
Europe, Middle East, Africa
Format:
PDF Adobe Acrobat
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About the Author


Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "mBank" Jun 30, 2015. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/mBank-1410421>
  
APA:
S&P Global Ratings’ Credit Research. (). mBank Jun 30, 2015. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/mBank-1410421>
  
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