27.04.2012
Information about the activity of Bank Millennium Capital Group during 1 quarter of 2012
Bank Millennium Group (the "Group") consolidated net profit amounted to PLN 110,1 million during the first quarter of 2012, which is a 8,8% increase when compared to corresponding period of 2011.
This growth was driven by a positive core revenue evolution as well as strict cost control and stable level of provisions. After first quarter 2012 the Group maintained high asset quality and low risk charges. Share of impaired loans in the consolidated portfolio stood at 5% and impairment charges in Group's Profit and loss accounted for PLN 37,8 million.
The proposal of maintaining entire 2011 profit in equity, consistent with Polish Financial Supervisory Authority recommendations and accepted by Annual General Meeting of Shareholders on April 20th, allowed for the improvement of capital ratios of the Bank and Capital Group. At the end of March the consolidated Capital Adequacy ratio stood at 14.3% whereas the Core tier 1 ratio was at high 12.5% level.
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The proposal of maintaining entire 2011 profit in equity, consistent with Polish Financial Supervisory Authority recommendations and accepted by Annual General Meeting of Shareholders on April 20th, allowed for the improvement of capital ratios of the Bank and Capital Group. At the end of March the consolidated Capital Adequacy ratio stood at 14.3% whereas the Core tier 1 ratio was at high 12.5% level.
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