Friday, October 28, 2016

Bank Polish of the BCP increases profits to 130,3 million – Jornal de Negócios – Portugal

The Bank Millennium bank, the Polish owned at 50,1% by Banco Comercial Português, closed the first nine months of the year with a net profit of 569,8 million zlotys (130,3 million euros), representing an increase of 15.5% compared to the same period last year.

In a statement, the Portuguese bank, which justifies the performance with the “extraordinary result related to the disposal of shares in Visa Europe recorded in the second triemstre, in the amount of 283 million zlotys (64.7 million euros), which more than offset the combined effect of the negative of the new tax on the banking and the accounting for additional provisions”.

Without taking into account the extraordinary events, Bank Millennium would have still recorded an increase in profits, from 4.8% to 517,4 million ($ 118.3 million of zlotys).

The bank notes that the “result core” grew by 4% in annual terms and by 2.3% on a quarterly basis, “favored mainly by the growth of financial margin”, up by 8.7% yoy. Net commissions grew by 7.4%.

Bank Millennium has increased the number of active clients in 107 billion in the last 12 months, to 1.45 million, with deposits at retail to grow to 16%, which the bank says is above the market average.

In the bank highlights growth of 44% in the segment of housing. The ratio of loans with impairment is 4,6%, being almost half in the housing.

The bank, the Polish arrived in September with a capital ratio CET1 of 17.8%, achieving a “comfortable compliance with the regulatory requirements of capital”.

(news updated at 7:57 with more information)


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