The owner of mBank criticizes the Polish government for “political interventions” in the banking sector. Intervention in Brussels

– is part of our strategy. He is healthy as a horse, innovative. In recent years, it has been an important growth driver for Commerzbank. We are very pleased with the operational development of mBank – said Manfred Knof in an interview published on Tuesday on the “Die Welt” website.

– We consider political interventions in Poland, unilaterally burdening the banks, as very unusual. That is why we approached the European Commission in early September, together with other banks in a similar situation. We have to wait to see what the general situation will look like after next year’s elections in Poland, stressed the president of Commerzbank, mBank’s majority shareholder.

Commerzbank is looking for an agreement with Poland

Knof did not directly answer the question whether his attitude was the result of a reflection that due to the war in Ukraine, relations with the “nationalist government in Warsaw” should not be aggravated. – I can’t judge it. We are still looking for an agreement with the Polish government – he stressed.

At the journalist’s suggestion that 16 percent the participation of the German government in Commerzbank is rather not helpful in talks with the Polish side, the president replied: “The German government will decide whether and when it will sell its shares in Commerzbank”. – The finance minister recently said publicly that he felt no pressure to sell. He probably has other more important things to do. We have no reason to complain about that,” he explained.

Franc loans as a burden

“Die Welt” reminded that the president of Commerzbank promised the shareholders to sell mBank, but so far the transaction has not taken place.

The German DPA agency wrote in July that the so-called will cost the German Commerzbank and its subsidiary mBank a lot. As part of the aid act introduced in the face of rapidly growing loan installments, borrowers will be able to suspend the repayment of monthly liabilities to the bank up to eight times until the end of 2023. At that time, Commerzbank predicted that this would have a negative impact on its financial results in the third quarter of this year. The bank could lose between 210 and 290 million euros in this way.

As DPA reported at the time, the dispute over older loans taken out in Swiss francs at mBank has been going on for years. So far, Commerzbank has recorded expenditures of EUR 900 million on this account.