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Healthcare

BRIEF-mBank Says Q1 Net Profit May Be Lower Than Year Ago

April 9 (Reuters) - mBank SA:

* SAID ON WEDNESDAY REGARDING THE CORONAVIRUS EPIDEMIC THE GROUP IS CONTINUING ACTIVITIES WITHOUT DISRUPTIONS

* GROUP’S LIQUIDITY AND CAPITAL SITUATION IS GOOD

* CAPITAL AND LIQUIDITY INDICATORS EXCEED LEVEL OF REGULATORY REQUIREMENTS

* POLAND’S MINISTRY OF FINANCE DECISION TO LOWER SYSTEMIC RISK BUFFER TO ZERO RESULTS IN MINIMUM CAPITAL REQUIREMENT DROP OF 2.83 P.P. AT CONSOLIDATED LEVEL

* LOWERING OF INTEREST RATES BY POLAND’S MONETARY POLICY COUNCIL (RPP) ON MARCH 17 AND APRIL 8 BY TOTAL OF 100 BASIS POINTS WILL NEGATIVELY IMPACT GROUP’S NET INTEREST INCOME

* IMPACT ON NET INTEREST INCOME OF THE GROUP IS CURRENTLY ESTIMATED AT ABOUT 155 MILLION ZLOTYS IN 2020, ASSUMING CONSTANT BALANCE SHEET TOTAL

* EXPECTS RISE IN RISK COST DUE TO POTENTIAL DETERIORATION OF MACROECONOMIC SITUATION

* EXPECTS Q1 NET PROFIT TO BE LOWER THAN YEAR AGO

Source text for Eikon:

Further company coverage: (Gdansk Newsroom)

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