Banco Comercial Português, S.A. informs about Bank Millennium Poland results in 9M2018

Banco Comercial Português, S.A. hereby informs that Bank Millennium in Poland, in which it has a 50.1% holding and whose accounts are fully consolidated at BCP group level, released today its results for the 9M2018. Main highlights are as follows:

 "Net profit increase

  • Net profit of 1-3Q 2018 reached 548 million PLN, which means 9.3% yearly growth
  • ROE at 9.5% and cost/income at 46.6%

Growth of operating income and costs

  • Operating income grew by 5.2% y/y while costs grew by 5.6% y/y
  • Net interest income grew +6.7% y/y

Low cost of risk and impaired ratio maintained

  • Cost of risk at 47 b.p. (annualised)
  • Impaired loans (stage 3) ratio at stable 4.7% level

Strong capital and liquidity ratios, rating upgrade

  • Group's TCR at 22.9% and CET1 at 20.9% (without profit of the current year)
  • Loan to deposits ratio still at very low level of 84.5%
  • Moodys's upgraded Bank Millennium rating to Baa2/P2/ba1/ positive outlook"

End of announcement

Banco Comercial Português, S.A.

Attachment

  • 2018 10 25 Resultados Polónia 9M2018 EN
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