28.10.2013
Information about the activity of Bank Millennium Capital Group during 3 quarter of 2013
Bank Millennium Group (the "Group") consolidated net profit amounted to PLN 392.8 million during the nine months of 2013, which is a 13,4% increase when compared to corresponding period of 2012. In the 3rd quarter, consolidated net profit reached PLN 138.5 million and continued positive trend growing by 3.2% quarterly.
Main financial highlights of 3Q 2013
Continued improvement of net profit
- 1-3Q'13 net profit at PLN 393 million; 13% up y/y
- 3Q'13 net profit at PLN 138 million; 3% up q/q
- ROE at 10.8% in 3Q (10.5% ytd)
Net interest income growth despite lower interest rates
- Net Interest income grew 3.2% q/q and 0.6% y/y
- Net commissions up 6.8% y/y
Lower costs, better efficiency
- Operating costs for 1-3Q'13 dropped 2.3% y/y
- Cost-to-Income ratio improved to 53% in 3Q (55% ytd)
3 strong pillars: asset quality, liquidity, capital
- Impaired loans ratio at 4.5% for 1- 3Q 2013
- Loan-to-deposits at 91%
- Core Tier 1 at 13.4% and total CAR at 14.9% at the end of 3Q
Main business highlights in 1-3Q 2013
Combined growth of volume and margin in deposits
- Solid growth of deposits (2.3% q/q, 9.2% y/y)
- Continuation of margin improvment on deposits
- Improved structure of deposits, with higher share of current and saving accounts
Strategic change of asset mix continues
- Cash loans sales at PLN 475 million, portfolio grew 29% y/y
- Factoring quarterly turnover at PLN 2.6 billion, leasing new sales at 500 million
- Loans to companies grew by PLN 1.2 billion (11%) ytd
- Increased share of non-mortgage loans
Quality awards prove excellence in service level
- The most „Friendly Bank for retail customers" by Newsweek
- Awarded „Best Consumer Internet Bank" by Global Finance