MultiBank merges with mBank, or changes in BreBank

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BRE Bank decided over a year ago that it was time to consolidate and promote one brand. This is how the idea of ​​merging MultiBank with mBank was born, the effects of which we will see on November 25, 2013. What is more, BRE Bank itself, as a capital group owning both institutions, will also wear the refreshed mBank logo this year. It can be seen that the image and brand of the latter have proven to be so strong that it is worth investing in it and promoting under its wings.

New trading system
Multibank absorbed by mBank
Source: MultiBank

Besides, it couldn't be otherwise, since mBank itself received a new transaction system this year. Eventually, the other two banks will probably receive it as well. The new mBank is trying to keep up with estonia whatsapp database competition, which has become much more intense since Alior Sync entered the market. The new system is more multimedia, but it has divided customers into those satisfied with the changes and those who prefer to use the older mBank solution. In my opinion, the older version is more legible and is a model of clarity, although the appearance itself is a bit old-fashioned.

Changes “not noticeable” in MultiBank?
MultiBank itself assures on its website that it will not require signing additional agreements or annexes to them. The transfer of clients to the new brand will therefore take place without performing additional activities. There will be no changes to the agreements for signed loans, the terms of the account or other products of the bank.

Accounts held with a stronger
MultiBank informs customers on its website that their accounts will continue to be managed on the same principles , but through mBank. A similar situation applies to loans, which, as we read, will not be modified and will continue to be repaid according to the principles of the signed agreements. The account has already been described on the website in the article opinions about mBank .

Consolidation in banking
Last year and this year we have already witnessed the absorption of Kredyt Bank by BZ WBK, as well as the purchase of the previous Polbank by Raiffeisen Bank, whose brand is to disappear from the market next year. BRE's decision seems to be right if we look at the ongoing consolidation of the banking sector in accordance with the principle "bigger can do more".

Concerns about declining competitiveness
Although on the one hand, in the face of consolidation, there is an opportunity for the bank to reduce its own costs. Expand the range of available ATMs, cash deposit machines or branches. On the other hand, however, this raises the question of the decrease in competition between increasingly large entities.

I think we don't have to worry about this. The niche is filled by new banks and their new competitive offers. It is worth mentioning here, for example, the launch of Alior Sync in mid-2012 or the planned creation of a new "Plus Bank" by Zygmunt Solorz Żak. Based on mobile payments, probably related to Polkomtel, which is in the businessman's group.