S&P revises mBank view to negative

S&P said it revised the outlook for mBank to negative from developing and affirmed the bank’s BBB rating.

“We believe the currently difficult economic environment related to Poland's Covid-19 countermeasures will pressure mBank's earnings and risk costs toward the end of 2020 and at least in early 2021. The bank might be especially vulnerable since its growth has been twice the market average, and new loans tend to carry more latent risks than loans that have been in the portfolio longer,” S&P said in a press release.

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