mBank raises EUR 250 million in AT1 notes: mBank stock costs EUR 320.55

Published on 10/20/2026 at 10:45 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

mBank raised EUR 250 million in AT1 notes on September 29, 2026. mBank stock costs EUR 320.55 on October 20, 2026 at Lang & Schwarz.

Capital and reporting calendar

mBank issued EUR 250 million of AT1 notes on September 29, 2026.
Net profit reached PLN 2,013 million in the first half of 2026.
mBank stock traded at EUR 320.55 at 10:38 a.m. CEST at Lang & Schwarz on October 20, 2026.

mBank, PLBRE0000012, Illustration mit AI erstellt.

mBank (ISIN PLBRE0000012) raised EUR 250 million through Additional Tier 1 notes issued on September 29, 2026, giving the Polish lender a fresh capital-market milestone. The transaction and its terms are set out in mBank documentation dated September 25, 2026. For investors, the issue matters because it combines funding diversification with a visible capital-cost benchmark.

Capital comes at 6.625 percent

The perpetual notes carry a fixed coupon of 6.625 percent until March 29, 2032, subject to the instrument terms. Demand exceeded EUR 2.2 billion at its peak, while the final order book reached EUR 1.75 billion, according to the mBank investor newsletter published for September 2026. The order book was seven times the issue size, and 135 investors submitted orders.

The capital action arrives against a stronger earnings base. For the first half of 2026, mBank Group reported total income of PLN 6,221 million, down 0.1 percent from PLN 6,227 million in the first half of 2025, while net profit attributable to owners reached PLN 2,013 million, up from PLN 1,665 million. Those figures were disclosed in the bank's AT1 prospectus.

What does the issue mean for capital?

The issue is intended to qualify as Additional Tier 1 capital for the bank and its group, with a trigger event tied to a CET1 ratio below 5.125 percent. That structure supports balance-sheet capacity but also leaves investors exposed to cancellation and write-down provisions described in the prospectus.

Three dated developments

On September 3, 2026, mBank appointed Aleksandra Gren as chairwoman of its supervisory board, effective November 1, 2026. On September 25, 2026, the bank published the prospectus for EUR 250 million of perpetual AT1 notes. On September 29, 2026, the notes were issued with a 6.625 percent initial coupon, according to the mBank investor newsletter.

Reporting dates are approaching

mBank's investor calendar lists the Group financial report for the third quarter of 2026 on October 28, 2026. The selected non-audited financial data for the fourth quarter of 2026 are scheduled for February 4, 2027, according to the bank's investor-relations page.

Stock trades ahead of results

mBank stock was trading at EUR 320.55 at Lang & Schwarz on October 20, 2026 at 10:38 a.m. CEST. The shares are listed on the Warsaw Stock Exchange under ticker MBK and are included in the WIG-20, WIG and WIG-Banks indexes. The further course of trading is shown by the continuously updated real-time quote of mBank stock.