mBank – Ratings Affirmed with a Stable Outlook

3 April 2026

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of mBank (or the Bank) at ‘BBB’ and ‘A2’, respectively. At the same time, CI Ratings has affirmed mBank’s Bank Standalone Rating (BSR) of ‘bbb’, Core Financial Strength (CFS) rating of ‘bbb’ and Extraordinary Support Level (ESL) of Uncertain. The Outlook for the LT FCR and BSR remains Stable.

The Bank’s BSR is derived from a CFS rating of ‘bbb’ and an Operating Environment Risk Anchor (OPERA) of ‘bbb’, indicating modest risk. The OPERA reflects the diversified nature of the economy as well as high competitiveness, together with Poland’s high monetary policy flexibility and its resilient banking sector, despite declining policy predictability.

The LT FCR receives no ESL uplift above the BSR, as we assess the ESL as Uncertain. While we view mBank as…