Banco Comercial Port Banco Comercial Português, S.A. Informs About Bank Millennium (Poland) Results In The First 9 Months Of...

Fecha : 28/10/2019 @ 03:51
Fuente : UK Regulatory (RNS & others)
Emisora : Banco Comercial Portugues Sa (0RJN)
Cotización : 0.1948  0.00015 (0.08%) @ 03:00
Banco Comercial Portugues Cotización de acciones Gráfica

Banco Comercial Port Banco Comercial Português, S.A. Informs About Bank Millennium (Poland) Results In The First 9 Months Of...

 
TIDMBCP 
 
 
   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 9M 2019. 
Main highlights are as follows: 
 
   Profitability including Euro Bank impact 
 
   -- Net profit of reached 534 million PLN (124.3 million EUR) in the 
first nine months of 2019, with a net impact of extra costs and 
provisions related to the Euro Bank acquisition of 124 million PLN (28.9 
million EUR) 
 
   -- Net profit of 200 million PLN (46.6 million EUR) in Q3, representing 
a q/q growth of 15%, adjusted for one-offs* of 224 million PLN (52.1 
million EUR) 
 
   -- Reported ROE at 9.2% and Cost/Income at 49% 
 
   -- Adjusted* ROE of 10% and Cost/income ratio of 46% 
 
   Increased operating income. Costs influenced by Euro Bank integration 
 
   -- Operating income grew 25% y/y, of which 12.3% are related to Bank 
Millennium organic growth 
 
   -- Net interest income grew 30% y/y (13%, excluding Euro Bank) 
 
   -- Operating costs grew 30% y/y, (24%, excluding integration costs) 
 
   -- Bank Millennium organic costs grew 8.5% y/y (excluding integration 
costs) 
 
   -- Initial reserve for cash loans fees returns after European Court of 
Justice (ECJ) ruling: 53 million PLN (12.3 million EUR) 
 
   High asset quality and liquidity 
 
   -- Impaired loans (stage 3) ratio at 4.4% 
 
   -- Adjusted cost of Risk** at 61 b.p. (annualised) 
 
   -- Loans to deposits ratio at 86% 
 
   Capital ratios strengthened after the incorporation of 1H profits in own 
funds 
 
 
   -- Group's Total Capital Ratio (TCR) at 20.2%, and CET1 ratio at 17.1% after 
      incorporating full 1H 2019 year profits 
 
   -- Fitch agency affirmed Bank Millennium's ratings at BBB-, with stable 
      outlook 
 
 
   Retail business (excluding Euro Bank) 
 
 
   -- 2.0 million active clients, +421 thousand clients during the last 2 years 
      (ahead of the strategic plan objective of 600 thousand clients in 3 
      years) 
 
   -- 2nd best*** nominal growth rate of retail clients: +297 thousand clients 
      during the last year 
 
   -- Over 3 billion PLN (0.7 billion EUR) in new cash loans and mortgages sold, 
      in the first nine months (+30% and 24% y/y, respectively) 
 
   -- Deposits grew 17.8% y/y (5.1% q/q) 
 
   -- Rebound in investment products (+0.1% q/q) 
 
 
   Retail business (including Euro Bank) 
 
 
   -- Deposits grew 37.1% y/y (5.1% q/q) 
 
   -- Over 1.5 billion PLN (0.3 billion EUR) of combined sales of cash loans in 
      Q3 
 
 
   Companies business 
 
 
   -- Continued growth of loans to companies: +11% y/y 
 
   -- Deposits volume grew 23% y/y 
 
   -- Growth in factoring and leasing sales of 8% and 3% y/y, respectively 
 
 
   Quality and Innovations 
 
 
   -- The Best Web Site Design in Central and Eastern Europe, according to the 
      Global Finance 
 
   -- 1st place in the "Client Relations" category and 2nd place in the 
      "Innovativeness" and "Growth" categories, in the "Banking Stars 2019" 
      competition **** 
 
   -- 1.3 million downloads of the Millennium Goodie app. 
 
 
   (*) with equal distribution of BGF resolution fee through the year, 
without extra release of tax asset provision in Q1 - PLN 27 million -- 
(EUR 6.2 million), without integration costs - PLN 64 million -- (EUR 
14.9 million) and IFRS9 extra provisions created for Euro Bank loan 
portfolio - PLN 89 million -- (EUR 20.7 million). 
 
   (**) total net provisions to average net loans, without extra IFRS9 
provisions on Euro Bank acquired portfolio 
 
   (***) based on PRNews, adjusted for merger effects 
 
   (****) organised by Dziennik Gazeta Prawna 
 
   End of announcement 
 
   Banco Comercial Português, S.A. 
 
   Attachment 
 
 
   -- Resultados Polónia 9M 2019 EN 
      https://ml-eu.globenewswire.com/Resource/Download/ce004467-d797-4e28-9aa1-a15bd2fcfbae 
 
 
 
 
 
 
 

(END) Dow Jones Newswires

October 28, 2019 04:51 ET (08:51 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

Banco Comercial Portugues (LSE:0RJN)
Gráfica de Acción Histórica

1 año : De Dic 2018 a Dic 2019

Haga Click aquí para más Gráficas Banco Comercial Portugues.

Banco Comercial Portugues (LSE:0RJN)
Gráfica de Acción Intradía

Hoy : Viernes 6 de Diciembre 2019

Haga Click aquí para más Gráficas Banco Comercial Portugues.
Su Consulta Reciente
BMV
FIBRAPL14
Fibra Prol..
BMV
AMXL
América Mó..
BMV
ME
IPC México
BMV
ALSEA*
Alsea
FX
USDMXN
United Sta..
Las acciones que ha visto aparecerán en este recuadro, lo que le permite volver fácilmente a las cotizaciones que ha consultado previamente
Registrarse ahora para crear su lista personalizada de acciones en streaming.

Cotizaciones PLUS están en tiempo real. Cotizaciones NYSE y AMEX están con retraso de por lo menos 20 minutos.
El resto de las cotizaciones están con retraso de por lo menos 15 minutos al menos que se indique lo contrario.

Al acceder a los servicios disponibles de ADVFN usted acepta quedar sujerto a los Términos y Condiciones

P: V:mx D:20191207 04:11:29