B. Millennium counts on increase in lending to enterprises in ‘24
Bank Millennium expects to see increased corporate lending in the second half of 2024, following the completion of its recovery plan. The bank maintains that its risk costs for 2024 will be around 50 basis points. The bank's strong capital position is anticipated to support this growth, though significant investments from large companies may only emerge towards the end of 2024 or in 2025-2026.
In July, the Financial Supervision Authority's new long-term financing ratio recommendation was introduced, requiring banks to maintain a 40% ratio starting from the end of 2026. Bank Millennium has already taken steps to meet this requirement by issuing mortgage bonds, with strong demand noted.
In the first half of 2024, the bank's net profit was PLN 356.9 million, slightly down from PLN 357.9 million in the previous year. The bank does not plan to pay a dividend for 2024 but is open to paying one for 2025, pending further recommendations.
