Bank Millennium reports higher profit than expected

The net profit of the seventh-biggest lender in Poland, Bank Millennium, grew by 10.5 percent year-on-year in Q4 of 2014 and amounted to PLN 157.7 million, the company informed on Monday. Market consensus put the figure at PLN 149 million. The result was better than experts' expectations, because the bank increased its net interest income to PLN 354 million from PLN 346 million in 2013, Reuters pointed out. In the entire 2014, the lender reported PLN 641 million of net profit, while the forecast was PLN 642 million. Bank Millennium is a Polish unit of Portugal’s Millennium BCP.