mBank reports lower profitability but greater reach
07/11/2002 Editor: BiznesNet.pl SA

Poland's leading online bank, mBank is sustaining its dynamic rate of
increase in number of clients and accounts opened.

At present mBank manages 366,000 accounts for over 300,000 clients and has
increased its reach to less well off clients. This represents an increase of
36 per cent since the second quarter of the year. Over the same period the
value of the deposits with which it has been entrusted has risen by around
PLN 200m (E50.51m), or 14 per cent. At the end of May 2002, the average
deposit per account was over PLN5,200 (E1,313). Now that figure has fallen
to PLN 4,300 (E1,086) - a drop of 17 per cent.

mBank has also announced that it is evolving towards becoming a normal
retail bank offering deposits and loans. In the near future, says the
company, it will be broadening its product mix considerably to include
further products and services, not only bank-related.

--
Michal 'Amra' Macierzynski
www.prnews.pl - swiat e-bankow