Established in 2000 as BRE Bank, the bank was rebranded to mBank in 2013. Today mBank is one of the largest Polish banks, operating as a universal bank and serving all client groups. mBank provides a comprehensive range of products and services in retail, business, corporate and private banking.
In 2017 total assets of mBank (Commerzbank) were 31 477,00 mln PLN. In 2017 the bank's net income was 256,00 mln PLN. mBank (Commerzbank) had 6 455 employees in 2017.
mBank (Commerzbank) is rated by Fitch, Moody's. Long-term credit rating assigned to the bank by Fitch is BBB (good credit quality). Long-term credit rating assigned to the bank by Moody's is Baa1 (lower medium grade).
mBank (Commerzbank) participates in deposit guarantee scheme of Poland. This scheme covers accounts up to 100 000 EUR per bank per depositor.
mBank (Commerzbank) is headquartered in Warszawa.
time deposit accounts
mBank (Commerzbank) provides products and services in the areas of retail banking, private banking, corporate banking, insurance. The range of products offered by mBank (Commerzbank) includes current accounts, savings accounts, time deposit accounts, investment funds, consumer loans, mortgage loans, business loans.
Current accounts are non-interest bearing deposit accounts that are used to perform day-to-day banking transactions. Current accounts are often offered with a payment card (a debit card and/or a credit card) and may also include overdraft possibility. Annual costs of having a current account (also known as account management fees) can depend on monthly income input to the account or amount of money deposited into the account.
Current accounts made with mBank (Commerzbank) are covered by deposit guarantee scheme of Poland up to 100 000 EUR per depositor. The following current accounts are offered by mBank (Commerzbank).
Updated on 17 December 2018
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|Total Assets (2017)|
|31 477.00 mln PLN (-76.46%)|
|Total Equity (2017)|
|3 423.00 mln PLN (-73.77%)|
In 2017 total assets of mBank (Commerzbank) were 31 477.00 mln PLN. Decline compared to the previous period (2016) was -76.46%. The evolution of the total assets of mBank (Commerzbank) is shown at Chart 1 below.
Chart 1. Total Assets of mBank (Commerzbank).
Recent changes in total assets of mBank (Commerzbank) and its main components are shown in Table 1.
|Loans||84 524.0||20 916.0||-75.25%|
|Total Assets||133 744.0||31 477.0||-76.46%|
|Table 1. Recent changes in total assets of mBank (Commerzbank) (mln PLN).|
Recent changes in total liabilities of mBank (Commerzbank) and its main components are shown in Table 2.
|Deposits||89 817.0||21 809.0||-75.72%|
|Total Liabilities||133 744.0||31 477.0||-76.46%|
|Table 2. Recent changes in total liabilities of mBank (Commerzbank) (mln PLN).|
|Net Income (2017)|
|256.00 mln PLN (-79.00%)|
In 2017 net income of mBank (Commerzbank) was 256.00 mln PLN. Decline compared to the previous period (2016) was -79.00%. The evolution of the net income of mBank (Commerzbank) is shown at Chart 2 below.
Chart 2. Net Income of mBank (Commerzbank).
|Number of Employees (2017)|
|6 455 (-23.16%)|
In 2017 there were 6 455 employees of mBank (Commerzbank). Decline compared to the previous period (2016) was -23.16%. The evolution of the number of employees of mBank (Commerzbank) is shown at Chart 3 below.
Chart 3. Number of Employees of mBank (Commerzbank).
|BBB (good credit quality)||Baa1 (lower medium grade)|
Credit Rating is an opinion of a credit rating agency about credit worthiness of a company or a government. mBank (Commerzbank) is rated by Fitch and Moody's.
Credit ratings assigned to mBank (Commerzbank) as of May 2018 are shown in details in the following sections.
Long-term issuer default rating is Fitch's view of a credit institution's relative vulnerability to default on its financial obligations, for mBank (Commerzbank) it is set to BBB (good credit quality), outlook is stable (not likely to change). The rating is not on watch. Short-term issuer default rating for mBank (Commerzbank) is set to F2 (good short-term credit quality).
|Long-Term Issuer Default Rating||BBB|
|Short-Term Issuer Default Rating||F2|
|Support Rating Floor||-|
Viability rating for mBank (Commerzbank) is set to bbb- (good fundamental credit quality); support rating is 2 (high probability of external support); support rating floor is not set.
Long-term rating for mBank (Commerzbank) it is set to Baa1 (lower medium grade). Long-term bank deposit rating is Baa1 (lower medium grade). Baseline credit assessment is ba1. Short-term rating is not assigned.
|Long-Term Bank Deposit Rating||Baa1|
|Baseline Credit Assessment||ba1|
Outlook for the ratings of mBank (Commerzbank) is set to positive (may be raised).
|Yes (up to 100 000 EUR per depositor)|
Deposit Guarantee Schemes compensate certain deposits held by depositors of a bank that becomes unable to meet its obligations.
All credit institutions operating in Poland are obliged to participate in Polish deposit guarantee scheme.
In the case of mBank (Commerzbank) failure, eligible depositors having covered accounts in this bank will be paid out the following compensation:
|Eligible Depositors||natural persons, legal entities|
|Covered Accounts||deposits in all the accounts (e.g. term deposits, current accounts, savings accounts)|
|Maximum Protected Amount||100 000 EUR|
|Paid In Currency||PLN|
BIC (Business Identifier Code, also known as SWIFT code or SWIFT BIC) is a the mostly used international identifier of financial institutions. SWIFT is the registration authority for BICs. BICs are used in financial transactions, client and counterparty data bases, compliance documents and many others.
A BIC consists of eight or eleven characters, comprising a financial institution code (four characters), a country code (two characters), a location code (two characters) and, optionally, a branch code (three characters).
BIC of mBank (Commerzbank) and its components are shown in the table below.
|Bank BIC Code||BREX|
|Country Code||PL (Poland)|
MFI ID (Monetary Financial Institution Identifier) is a code, unique to each institution in the MFI list provided by ECB (European Central Bank). MFI ID is hence applicable to MFIs resident in the European Union.
The code is alphanumerical, with the first two digits representing the two-digit ISO code for the country of residence of the MFI and the remaining number of digits (no limit has been specified) is any combination of alphanumerical characters.
MFI ID of mBank (Commerzbank) is shown in the table below.
Bank Sort Code is a code that uniquely identifies a financial institution within a country. Bank sort codes are usually assigned by National Central Banks and differ from BIC codes.
|Bank Sort Code||11400000|