Bank Millennium earned less and more at the same time

opublikowano: 25-01-2007, 12:07

Warsaw (Puls Biznesu) – Bank Millennium does not slow down its growth rate while it plans no one-time events this year.

Warsaw (Puls Biznesu) – Bank Millennium does not slow down its growth rate while it plans no one-time events this year. 

Bank Millennium had PLN 300.8m (EUR 77.3m) of net income last year against PLN 567.1m a year earlier.

“If you deduct all one-time events which influenced the 2005 result, it turns out that last year’s result was 44 percent higher than the one generated in 2005”, Boguslaw Kott, Bank Millennium CEO convinced.

He stressed that the bank is going to share its income with its shareholders. The management proposes to pay out PLN 0.17 a share, or PLN 144.4m, 48 percent of the net income. A year earlier, the bank paid out 80 percent of its income.  

In 2006, the retail credit portfolio of the bank doubled to PLN 8.8 billion. Mortgage credits alone amounted to PLN 4.7 billion. Millennium has 13.5 percent of the mortgage credit market, only PKO BP which gave credits worth PLN 11 billion has a bigger market share. Bank Millennium doubled the number of its credit cards to 257,000 but is still far behind the leaders including Lukas Bank, PKO BP and BHW which issued over 600,000 cards each.

(PLN 1 = EUR 0.257)

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