Bank Millennium profit in line with expectations

Bank Millennium, a unit of Portuguese Millennium bcp, recorded a consolidated net profit of PLN 163.6 million in the second quarter of 2014, the company said in a release on Monday. The result was slightly lower than a consensus compiled by the Polish Press Agency, which stood at PLN 165.8 million. The lender’s return on equity stood at 11.9 percent as of the end of June. The bank would like to raise the indicator’s value to 14-15 percent in 2015. Bank Millennium’s net interest income stood at PLN 377.4 million in Q2 2014 and grew by 21 percent year-on-year. Net fees and commissions came in at PLN 163 million and grew by 3 percent y/y.