mBank and PGGM enter into PLN 3.8 billion credit risk sharing transaction backed by financing to the renewable energy sector

WARSAW, Poland, Oct. 22, 2025 (GLOBE NEWSWIRE) -- mBank and PGGM have entered into a credit risk sharing transaction referencing a PLN 3.8 billion portfolio of corporate loans in Poland. Approximately 75% of the portfolio is backed by financing of wind-farms and photovoltaic installations. The remainder of the portfolio references project finance lending in the areas of health care, telecommunications, and other industries of strategic importance to the lender.

This is the first large-scale project finance significant risk transfer transaction (SRT) from the CEE region, primarily backed by a portfolio of renewables. It is also the third transaction in three years between mBank and PGGM.

The transaction represents an important milestone for mBank and is executed shortly following the announcement of mBank’s new strategy for 2026-2030 titled “Full Speed Ahead!”. The transaction will help the bank advance its sustainability agenda. In the strategy, the bank aims to allocate 15% of its corporate credit portfolio to sustainable finance by 2030, contributing to the energy transition of the Polish economy.

For PGGM and its end investor PFZW, the transaction offers a unique opportunity to support the energy transition in Central and Eastern Europe. It reflects PGGM’s and PFZW’s long-standing commitment to contribute to Sustainable Development Goals in the context of PFZW’s 3D investment approach, while strengthening the strategic relationship with mBank.

The transaction has been structured in accordance with the European Union’s regulatory framework for significant risk transfer (SRT), ensuring compliance with capital relief requirements.

Luca Paonessa, Lead Portfolio Manager, Credit Risk Sharing at PGGM: “This is the third transaction we execute with mBank, and the first with a strong focus on sustainability and energy transition. We are particularly proud of this project, as it reinforces two of our investment principles: the focus on partnerships with like-minded banks, and the belief that banks can play a critical role in the energy transition. Ultimately, this shows that credit risk sharing is an effective tool for mobilizing private capital for sustainable development. It therefore fits perfectly in PGGM’s 3D investment approach where we aim for an optimal balance between risk, return and sustainability for PFZW’s pension assets.”

Karol Prażmo, Managing Director - Treasury & Investor Relations at mBank: “We are proud to be once again writing SRT market history together with PGGM—this time through the first large-scale project finance SRT from the CEE region, backed by a portfolio of renewable energy projects. The transaction strengthens our capital base, builds on our position as a leading bank in the renewables sector, increases our capacity for new business, and more broadly supports Poland’s energy transition. It reflects the shared strategic focus of both mBank and PGGM on sustainability and ESG. I would like to thank the entire PGGM and mBank team for successfully closing this landmark transaction.”

About mBank

Set up in 1986, mBank is Poland’s fifth largest universal banking group in terms of total assets (at the end of H1/2025). The bank services approximately 4.7 million retail clients and 36.8 thousand corporate clients in Poland and nearly 1.2 million retail clients in the Czech Republic and Slovakia. The institution’s offering includes retail, SME, corporate and investment banking as well as other financial services such as leasing, factoring, commercial real estate financing, brokerage, wealth management, distribution of insurance, corporate finance and advisory in the scope of capital markets. Commerzbank is mBank’s strategic shareholder and owns 69.0% of the shares.

https://www.mbank.pl/en/

About PGGM Investment Management

PGGM Investment Management is part of the Dutch not-for-profit pension fund service provider PGGM. It fulfills a social mandate: the sustainable investment of the pension capital of around three million participants of PFZW, the pension scheme for the Dutch health and welfare sector. On 30 September 2025, PGGM IM managed EUR 255 billion in public and private markets globally. More information about PGGM IM: annual-report-pggm-vermogensbeheer-b-v-2024.pdf

www.pggm.nl.

CONTACT:
Piotr Rutkowski, mBank’s Spokesperson
mBank
+48 510 029 169
piotr.rutkowski@mbank.pl
https://www.mbank.pl/en/

Source: mBank