18.10.2004
Information about activity after three quarters of 2004
The Management Board of Bank Millennium ("Bank") informs that after three quarters of 2004 accounting year (from 1 January until 30 September 2004) consolidated net profit of the Bank Millennium Group and of Bank Millennium was PLN 129,2 million. By comparison consolidated net profit of the Group and the Bank after the first three quarters of 2003 stood at PLN 36,9 million.
- Net interest income generated by Bank Millennium Group after nine months of 2004 totalled PLN 439,2 million and was 7,4 % higher than in the corresponding period of last year (PLN 408,9 million) in result of consistent management of commercial spreads and a favourable change of the structure of deposits.
- Net commission income was PLN 179,1 million (PLN 157,0 million after nine months of the previous year), which means it grew 14,1%. This growth was driven by development of business mainly in the retail segment and by transactions done on the equity market by Millennium Dom Maklerski.
- Other non interest income (income from shares, financial transactions and F/X gains/losses) in the first nine months of 2004 was PLN 207,6 million as compared with PLN 143,8 million generated in the first three quarters of the previous year (increase by 44,4 %). The value of this item was fundamentally affected by the sale by the Bank in the second quarter of this year the portfolio of car loans granted through PTF, while the same period of the previous year was also affected by the gain on the sale of PolCard shares.
Total Result on Banking Activities after three quarters of 2004 stood at PLN 825,9 million as compared with PLN 709,6 million after three quarters of 2003. This means it increased by 16,4%.
Other operating income and expenses in the nine months of 2004 totalled PLN 15,5 million, standing at PLN 18 million in the first nine months of 2003.
Full version of press release (in Polish)