Polish Bank Millennium's Net Profit Edges Down 3.6%
July 24 2012 - 1:50AM
Dow Jones News
WARSAW--Poland's Bank Millennium SA (MIL.WA), a unit of Banco
Comercial Portugues SA (BCP.LB), said Tuesday its second-quarter
net profit fell 3.6% on the year due to higher writedowns for bad
loans, as the economic slowdown in the central European country
starts to bite.
MAIN FACTS:
-- Millennium's second-quarter net profit fell to 111.1 million
zlotys ($32.11 million) from PLN115.3 million.
-- The bank's net interest income rose 1.9% on the year to
PLN293.3 million.
-- Net fee and commission income rose 1% to PLN146.1
million.
-- Provisioning for non-performing loans jumped 67% to PLN73.8
million.
Write to Marynia Kruk at marynia.kruk@dowjones.com
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