Millennium profit grows

WSE-listed Bank Millennium, posted a PLN 179.6 million net profit in Q4, up by 37 percent y/y according to the lender’s preliminary results. Net interest income stood at PLN 449.2 million compared to PLN 446.6 million a quarter earlier. Net fee and commission income amounted to PLN 169.4 million compared to PLN 165.5 million in the previous quarter. Total assets of the bank totaled PLN 71.14 billion at the end- 2017, a 3.4 percent y/y growth. For the whole year, Bank Millennium posted a PLN 681.2 million and was lower by 2.9 percent than in the previous year. Excluding the aforementioned one-off income and fees (in particular the profit from the sale of Visa Europe), net profit groups increased by 30.8 percent.