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
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The World Bank is seeing a surge in demand from borrowers seeking the Bank’s expertise to mitigate currency and interest rate risk.
more »
The European Commission has approved under EU state aid rules a Lithuanian package intended to stabilise the markets as a response to the global financial crisis.
more »
Total cereal production in 2010 should be close to the average from the last five years. While the yield per hectare will be 5% above average, overall cultivated areas have decreased.
more »
According to the unaudited data, AB Bank SNORAS profit prior to provisions and tax exemption within the first half of this year comprised LTL 51 million, the bank formed almost LTL 48 million provisions.
more »
The European Commission today approved two applications from Denmark for assistance from the EU Globalisation Adjustment Fund (EGF).
more »
The European Investment Bank today signed two loans for a total amount of EUR 150 million in support of small and medium-sized enterprises (SMEs) in Turkey.
more »
On 23 July 2010 the Board of the Bank of Lithuania permitted Bank SNORAS to register a change to the articles of association related to the increase of the authorized capital of the bank by LTL 82.3 million up to LTL 494,217,107.
more »
Heads of State and top officials from the Central American Integration System and World Bank Group President, Robert B. Zoellick, agreed to join efforts towards regional cooperation and integration and adopted a comprehensive agenda that includes an action plan with more than 20 specific measures.
more »
The Executive Board of the International Monetary Fund (IMF) today approved the full cancellation of Haiti’s outstanding liabilities to the Fund, of about SDR 178 million (equivalent to US$268 million).
more »
The Executive Board of the International Monetary Fund (IMF) today completed the third review of Latvia's performance under an economic program supported by a Stand-By Arrangement (SBA).
more »