Bank Millennium with better than expected Q4 profit

WSE-listed Bank Millennium, a unit of Portuguese Millennium BCP, edged out consensus expectations (PLN 127.5 million) with a PLN 131.5 million net profit in Q4. For the 2016, the profit stood at PLN 701.3 million compared to PLN 546.5 million in 2015. The revenue for the last year stood at PLN 652.6 million vs. PLN 814.16 million the year before. Bank assets at end-2016 stood at PLN 68.79 billion, up from PLN 66.23 billion y/y.