Bank Millennium posts a 2005 profit of zł.567 million

 "This is the best result in the history of the company, that is why we will pay out 81% of the profit in dividends. This will translate into zł.0.54 per share," said Bank Millennium president Bogusław Kott. Company representatives claim that the record high results are mainly due to finalizing the deal to sell PZU shares, which added zł.337 million to the net profit figures. In 2005 Millennium granted mortgage loans totalling zł.2.5 billion, which gave the bank a 10.8% market share (third place behind PKO BP and BPH). "In previous years we managed to restructure the bank and set new development directions. Now it is time for a new strategy, according to which we hope to increase the number of our outlets by 160 (to 540) by 2007. We plan to modernize many of our products and increase sales. We are also changing the image of Millennium," explained Kott. In 2006 the bank wants to reach a 15% ROE ratio (currently it is 10.5%) and lower the C/I ratio from the current 74.4% to the level of 65%. (Puls Biznesu, p. 7; Parkiet, p. 3) D.W.