mBank S.A.

mBank is a provider of comprehensive corporate banking services in Poland. Co. and its subsidiaries make up the mBank Group which is engaged in offering financial services. Co.'s service offering includes a comprehensive financial offer tailored to the needs of corporate clients, Private Banking clients, and retail clients. The business activities of Co. is conducted in the following business segments: Retail Banking and Corporates and Markets.
  • TickerBRE
  • ISINPLBRE0000012
  • ExchangeWarsaw Stock Exchange
  • SectorBanks
  • CountryPoland

Raiffeisen Centrobank Equity Daily 18.09.2020

ATX indices review - FFF changes in IMMOFINANZ, EVN; ATX five: add: Wienerberger; del BAWAG Group CECE index review - Add: BIF, Graphisoft Park, Play Communications; Del: Appeninn, PGE FTSE Index Sept review - AllWorld (ML) add: Banca Transilvania; del: mBank, Russneft; AllCap (SML) add: Mayr-Melnhof, Petropavlovsk; del: Kapsch TrafficCom; TotalCap (Micro+SML) add: Marinomed, Getin Noble Bank; M->L: InterRAO; L->M: OMV, Erste Group; STOXX Europe 600 Index review - Dino to be added WIG20/WIG30 indices review - No change in constituents AT: FACC - Informing employees today regarding layoffs, up ...

Raiffeisen Centrobank Equity Daily 09.09.2020

PL: Banks - Banking sector data for July published by NBP (neutral) PL: Telecoms - Operators will have to remove hardware from risky contractors (negative) RO: OMV Petrom - Petrom to install ten fast recharging stations for electric cars in Romania (neutral) RU: Enel Russia - Macquarie is out (neutral) RU: RusHydro - Board recommends 2019 dividend (neutral) RU: RusHydro - Sovetskaya Gavan commissioned (neutral) CEE Macro Daily

Raiffeisen Centrobank Equity Daily 24.08.2020

 FTSE Index Sept review - AllWorld (ML) add: Banca Transilvania; del: mBank, Russneft; AllCap (SML) add: Mayr-Melnhof, Petropavlovsk; del: Kapsch TrafficCom; TotalCap (Micro+SML) add: Marinomed, Getin Noble Bank; M->L: InterRAO; L->M: OMV, Erste Group;  AT: voestalpine - Restart of small BF at Linz plant in early September (neutral)  CH: Aluflexpack - 1H results live up to RCBe, FY 20 guidance of sales of EUR 220-230 mn and adj. EBITDA of EUR 32-35 mn confirmed (neutral)  PL: Lotos - Lotos wants to invest into maritime fuel and offshore wind power generation (neutral)  PL: PGNiG...

Research Team

The Rear-View Mirror – EME markets: Equities back in the red in EUR terms in July

EME Equity Market – July 2020 Market performance – majority of indices in the red, with the ISE30 Index down 12.6%. Following its mediocre decline in June, the MSCI EM Europe Index declined 4.4% in EUR terms, but gained 0.4% in local currency terms in July. Following the rather large decline in the Turkish equities, the MOEX Index was also down, 3.5%, in July; while the Athens’ benchmark declined 3.3% and the Romanian BET Index fell 3.2%. Following its gain last month, the PX Index declined by 2.4%, followed by the Hungarian BUX Index, -0.4%. The only benchmark with a positive return in ...

Raiffeisen Centrobank Equity Daily 31.07.2020

â—¾AT: Andritz - 2Q 20 results way above expectations, new 2020 guidance: sales slightly down, EBITA margin at ~5% (positive) â—¾AT: Erste Group - Higher COR in 2Q, but strong operating result and capital (positive) â—¾FR: Verallia - Not immune but 2Q solid, FY guidance in line with RCBe (neutral) â—¾PL: mBank - 2Q 20 conference call notes (neutral) â—¾RO: Transgaz - The regulator set Transgaz's regulated revenue for transit pipeline 2 for the next gas year at roughly half last year's total transit revenue (neutral) â—¾RU: Novatek - 2020e capex to be cut by additional 15%, with no impact on LN...

1 director sold

A director at mBank S.A. sold 936 shares at 335.000PLN and the significance rating of the trade was 56/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board membe...

Raiffeisen Centrobank Equity Daily 18.09.2020

ATX indices review - FFF changes in IMMOFINANZ, EVN; ATX five: add: Wienerberger; del BAWAG Group CECE index review - Add: BIF, Graphisoft Park, Play Communications; Del: Appeninn, PGE FTSE Index Sept review - AllWorld (ML) add: Banca Transilvania; del: mBank, Russneft; AllCap (SML) add: Mayr-Melnhof, Petropavlovsk; del: Kapsch TrafficCom; TotalCap (Micro+SML) add: Marinomed, Getin Noble Bank; M->L: InterRAO; L->M: OMV, Erste Group; STOXX Europe 600 Index review - Dino to be added WIG20/WIG30 indices review - No change in constituents AT: FACC - Informing employees today regarding layoffs, up ...

Raiffeisen Centrobank Equity Daily 09.09.2020

PL: Banks - Banking sector data for July published by NBP (neutral) PL: Telecoms - Operators will have to remove hardware from risky contractors (negative) RO: OMV Petrom - Petrom to install ten fast recharging stations for electric cars in Romania (neutral) RU: Enel Russia - Macquarie is out (neutral) RU: RusHydro - Board recommends 2019 dividend (neutral) RU: RusHydro - Sovetskaya Gavan commissioned (neutral) CEE Macro Daily

Raiffeisen Centrobank Equity Daily 24.08.2020

 FTSE Index Sept review - AllWorld (ML) add: Banca Transilvania; del: mBank, Russneft; AllCap (SML) add: Mayr-Melnhof, Petropavlovsk; del: Kapsch TrafficCom; TotalCap (Micro+SML) add: Marinomed, Getin Noble Bank; M->L: InterRAO; L->M: OMV, Erste Group;  AT: voestalpine - Restart of small BF at Linz plant in early September (neutral)  CH: Aluflexpack - 1H results live up to RCBe, FY 20 guidance of sales of EUR 220-230 mn and adj. EBITDA of EUR 32-35 mn confirmed (neutral)  PL: Lotos - Lotos wants to invest into maritime fuel and offshore wind power generation (neutral)  PL: PGNiG...

Research Team

The Rear-View Mirror – EME markets: Equities back in the red in EUR terms in July

EME Equity Market – July 2020 Market performance – majority of indices in the red, with the ISE30 Index down 12.6%. Following its mediocre decline in June, the MSCI EM Europe Index declined 4.4% in EUR terms, but gained 0.4% in local currency terms in July. Following the rather large decline in the Turkish equities, the MOEX Index was also down, 3.5%, in July; while the Athens’ benchmark declined 3.3% and the Romanian BET Index fell 3.2%. Following its gain last month, the PX Index declined by 2.4%, followed by the Hungarian BUX Index, -0.4%. The only benchmark with a positive return in ...

Raiffeisen Centrobank Equity Daily 31.07.2020

â—¾AT: Andritz - 2Q 20 results way above expectations, new 2020 guidance: sales slightly down, EBITA margin at ~5% (positive) â—¾AT: Erste Group - Higher COR in 2Q, but strong operating result and capital (positive) â—¾FR: Verallia - Not immune but 2Q solid, FY guidance in line with RCBe (neutral) â—¾PL: mBank - 2Q 20 conference call notes (neutral) â—¾RO: Transgaz - The regulator set Transgaz's regulated revenue for transit pipeline 2 for the next gas year at roughly half last year's total transit revenue (neutral) â—¾RU: Novatek - 2020e capex to be cut by additional 15%, with no impact on LN...

Research Team

WOOD Daily: MBK PW; GARAN TI; YKBNK TI; OTKAR TI; TKFEN TI; NVTK LI; JMT PL; TITC GA; PKN PW; ENG PW; KCEL KZ; OPL PW; NIIS SG; EL RO; AFLT RX; TL Macro; CIE PW; PL Utilities; ARNT CZ

HEADLINES: • mBank: 2Q20 - posts beat vs. expectations due to low base effect; 1H20 ROE of only c.2% NEUTRAL • Garanti: 2Q20 generally stronger than expected • Yapi Kredi: in line with expectations, similar positive trends vs. peers • Otokar: 2Q20 results - EBITDA beat driven by defence exports POSITIVE • Tekfen: 2Q20 results - a mixed bag NEUTRAL • Novatek: 2Q20 results - expectedly weak, but ahead of the consensus • Jeronimo Martins: small beat in 2Q on (relative) strength of Biedronka POSITIVE • Titan Cement: solid 1H20 numbers, with manageable COVID-19 effect POSITIVE â€...

Research Team

WOOD Daily: KER PW; LPP PW; PLY PW; CEE Banks

HEADLINES: • Kernel: 4Q20 trading update - broadly in line with company's targets NEUTRAL • LPP: completes negotiations with 98% of shopping malls POSITIVE • Play Communications: increases prices in mobile pre-paid segment POSITIVE • CEE banks: 2Q20E - in the eye of the cyclone (Komercni Banka, MONETA Money Bank, Erste Bank, PKO BP, Bank Pekao, Santander BP, mBank, ING BSK, Bank Handlowy, Bank Millennium, Alior Bank) • Play Communications: 2Q20E preview - 1% yoy adjusted EBITDA drop expected (due on 10 August) • Short News (KGH)

Research Team

WOOD Daily: LVC PW; GTC PW; KTY PW; PL Banks; MBK PW; UKR Macro; PGE PW; JSW PW

HEADLINES: • LiveChat Software: 1Q20-21 (calendar 2Q20) preliminary results - USD 10.4m sales (up 31.3% yoy) POSITIVE • GTC: expects to write off around 3% of portfolio value in 1H20E results NEUTRAL • Kety: management recommends DPS of PLN 30.7 (7% dividend yield, 100% payout ratio) POSITIVE • Polish banks: Financial Stability Committee to recommend more risk weights cuts on real estate loans • mBank: loses class action lawsuit related to FX mortgages NEUTRAL • Ukraine macro: Shevchenko nominated as NBU governor NEGATIVE • PGE: CEO talks to the press • JSW: announces impairm...

Research Team

WOOD Daily: PL Banks; RU Macro; SBER RX; IIA AV; OPL PW; CAR PW; PL Telecoms

HEADLINES: • Polish banks: nothing will be the same (PKO BP, Bank Pekao, Santander BP, mBank, ING BSK, Bank Handlowy, Bank Millennium, Alior Bank) • Russia macro: popular mandate supporting Putin suggests RUB stability • Sberbank: June RAS results - 2Q20 read-across positive, but unlikely to tip the balance POSITIVE • Immofinanz: successfully raises EUR 356m of capital in a combination of shares and convertible notes NEUTRAL • Orange Polska: to record PLN 64m provision release on jubilee bonuses in 2Q20E NEUTRAL • Inter Cars: June sales up by 11% yoy • Polish telecoms: mobile...

Research Team

WOOD Daily: TRP RO; MBK PW; NRP NA; SNP RO; OMV AV; AEGN GA

HEADLINES: • TeraPlast: building up (BUY - initiation of coverage) • mBank: creates PLN 189m of FX mortgage litigation risk provisions in 2Q20E NEGATIVE • NEPI Rockcastle: issues EUR 500m 7Y unsecured fixed coupon green bond at a 3.4% yield POSITIVE • OMV Petrom: 2Q20 trading update • OMV: 2Q20 trading statement • Aegean Airlines: traffic picks up at Athens airport in June, but only slowly NEGATIVE • Short News (OPL, OTE)

With a more favourable environment, MBANK SA improves to Slightly Positive

MBANK SA (PL), a company active in the Money Center Banks industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 3 out of 4 stars, as well as its unchanged, moderately risky market behaviour. The title leverages a more favourable environment and raises its general evaluation to Slightly Positive. As of the analysis date June 12, 2020, the closing price was PLN 240.00 and its potential was estimated at PLN 270.22.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the we...

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