Bank Millennium has recorded zł.17 million in net profits during the third quarter of this year, compared to only zł.3 million in the same period of 2003
Published:
26 October 2004 y., Tuesday
Bank Millennium (Poland) has recorded zł.17 million in net profits during the third quarter of this year, compared to only zł.3 million in the same period of 2003.
In the first three quarters of the year the bank recorded a net profit of zł.129.2 million, which is a threefold increase in comparison to the same period in the previous year. The cost to revenues ratio amounted to 71.7% by the end of September, and if it was not for the sale of PTF loans in Q2, the result would have been 86.7%. Millennium has also recorded an improvement in the quality of credits, where the total value of endangered credits fell by almost zł.1.1 billion. The bank's solvency ratio increased to 18.5% from 12.2% in late September 2003. Despite the rights to sell its 10% stake in PZU being valid from November 5, the bank's president Bogusław Kott announced that there were no plans to do so.
Šaltinis:
wbj.pl
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