mBank and PGGM have entered into a credit risk sharing transaction referencing a €1.1 billion ($1.3 billion) portfolio of commercial real estate loans in Poland, with PGGM investing in 80 percent of the outstanding tranche as an anchor investor.
This is the first significant risk transfer transaction (SRT) from the CEE region referencing exclusively CRE lending and it is also the fourth transaction in four years between mBank and PGGM. The transaction supports mBank’s long-term strategy and creates additional capacity for further growth. As part of its 2026-2030 strategy – Full Speed Ahead! – mBank aims to increase financing supporting sustainable, transition and impact activities.
For PGGM and its end investor, Dutch pension fund PFZW, the transaction offers an opportunity to gain exposure to CRE lending in Central and Eastern Europe. In assessing the transaction, PGGM also considered mBank’s Science Based Targets initiative (SBTi)-validated decarbonizatio
